Anand Rathi puts a “buy” call on Ramky Infrastructure
Broking firm Anand Rathi has put a buy rating on Ramky Infrastructure with a target of Rs 353.
“Our sum-of-parts-based target of Rs 353 is based on 9x FY13e PE for the core business (Rs 293), in line with other midcap target multiples, and 1x Dec’11 P/BV of investment (Rs60),” says Anand Rathi research report.
Emkay puts a “buy” call on Indian Oil
Emkay Global Financial Services is bullish on Indian Oil and has recommended accumulate rating on the stock with a target of Rs 320 in its May 29, 2012 research report.
“Valuations for IOCL have moved in one year forward P/BV band of between 0.5x to 1.8x in the last five years with average P/BV of 1.1x. Currently the stock trades at 1x one year forward P/BV. We maintain accumulate on the stock with target price of Rs.320 (at 1.2x P/B FY13),” says Emkay Global Financial in its research report.
Angel Broking recommends NMDC
Angel Broking is bullish on NMDC and has recommended accumulate rating on the stock with a target of Rs 187 in its May 28, 2012 research report.
“Over the past five years, NMDC has traded at an average EV/EBITDA of 13.7x, compared to its current valuation of 3.8x FY2014E EV/EBITDA. Strong balance sheet, presence in sellers market (iron ore), low cost of production, high-grade mines, long mine life and compelling valuations make NMDC an attractive bet at these levels. Valuing the stock at 4.5x FY2013E EV/EBITDA, we derive a fair price of Rs187 and recommend Accumulate on the stock,” says Angel Broking research report.