Enam Securities has given a buy recommendation on Bharat Electronics at Rs 74. The company is expected to benefit from the increased tension with Pakistan which could lead to a strong rebound in the India's defense outlay.
It has a strong orderbook position and is estimated to grow at a CAGR of 20 pr cent for the next three years. The current market cap of the stock is less than the estimated cash balance at the end of FY03 and is available at 3.4 times its FY02 earnings.
CSFB Equity Research has revised upwards the target price of top-tier IT companies. For Infosys, they have estimate a target price of Rs 4250 while for Wipro and Satyam, they have targeted a price of Rs 1470 and 235.
Khandwala Securities is bullish on Mukta Arts at Rs 68 given the de-risked business model that it has put in place. The new model has multiple revenue streams comprising entry into TV software, forward integration into film distribution, training and equipment hire.
Zensar Technologies is on the buy list of Refco-Sify Securities with an acquisition price of Rs 52. Buy argument includes a restructuring exercise undertaken and appointment of Ganesh Natarajan as Managing Director. ZTL added 14 clients two of which are for quality consulting.
Dalal & Broacha Securities is long on Cipla putting a buy at Rs 1050 citing their ability to emerge as a leading player in the anti-asthmatic, anti-aids and antibiotics on back of their strength in process engineering. Further, exports are also expected to get a boost on back of their strength in anti-aids and anti-asthmatics.
