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Stock picks for August 13, 2012
Eicher Motors: Dolat Capital is bullish on Eicher Motors and has recommended accumulate rating on the stock with a target of Rs 2249 in its August 10, 2012 research report.
"Eicher Motors reported top-line revenue at Rs 15.9bn, up 22% YoY led by ~8% YoY volume growth in M&HCV. The company sold 11,979 medium and heavy commercial vehicles (M&HCV). It sold 27,244 motorcycles in 2QCY12, up 62% YoY."
Bharat Forge:Dolat Capital is bearish on Bharat Forge and has recommended reduce rating on the stock with a target of Rs 320 in its August 10, 2012 research report.
"Bharat Forge's exports grew 31% to Rs 5.0 billion, while the domestic operations were down 8% YoY to Rs 4.4 bn. Domestic revenues were down due to sluggish M&HCV volumes which declined 20% during the quarter. Non Auto business grew by 16.4% in Q1 FY13 on a YoY basis with continued traction across sectors."
Tata Motors: Angel Broking is bullish on Tata Motors and has recommended buy rating on the stock with a target of Rs 292 in its August 9, 2012 research report.
"Tata Motors (TTMT)' consolidated top-line registered a strong 30.1% yoy (down 14.9% qoq) growth aided by 57% yoy growth in Jaguar Land Rover (JLR) revenues for 1QFY2013. JLR results were driven by a robust 34.4% yoy growth in volumes led by Evoque (27,207 units) and strong demand in China (volumes up 91% yoy).
Oil India: Motilal Oswal is bullish on Oil India and has recommended buy rating with a target price of Rs 565.
Oil India reported the first quarter of FY13 earnings before interest, tax, depreciation, and amortization was largely in-line at Rs1,100 crore as impact of lower subsidy was off-set by lower sales of oil and gas.
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