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A few “buy” ideas from top brokerage firms


A few “buy” ideas from top brokerage firms highlights a few stocks that have been recommended for buying by reputed brokers in the last few days.

Brokerage firm Nirmal Bang puts a “buy” on Dena Bank

Nirmal Bang has set a price target of Rs 118 for the stock of Dena Bank, as against Friday's close of Rs 84.75 on the BSE.

“Comparatively stable NIMs, strengthening of core fee income, stable asset quality and operational efficiency are likely to boost Dena Bank’s core operating performance which in turn will help the bank to register stable return ratios going forward. We continue to remain positive on the stock at current levels.


Dena Bank is currently trading at a very attractive valuation amongst the banking business space. At CMP, it is trading at a PE of 3.24x of FY13E EPS and at an adjusted P/BV of 0.65x FY13E Adj BV. We maintain our BUY rating on the stock with a target price of Rs 118,” Nirmal Bang has stated in its latest report on Dena Bank.

Angel Broking puts a “buy” call on IL&FS Transportation Networks

Angel Broking has set a price target of Rs 265 on the IL&FS Transportation Networks stock. During the quarter, ITNL bagged road BOT projects worth Rs 4,948crore, taking its order book to Rs 12,057crore (OB of 4.3x FY2012 standalone revenue), thus putting the concern on order inflow to rest. Hence, going ahead, the company would focus on the execution of these projects. We have valued ITNL on an SOTP basis by assigning 5.0x EV/EBITDA to its standalone business and have valued its investments on DCF/Mcap/BV basis on FY2014E to arrive at a target price of 265/share. Hence, we maintain our Buy view on the stock,” the broking firm has stated in its latest report on IL&FS.

PINC Research puts a “buy” call on CESC

PINC Research has put a “buy” call on CESC with a price target of Rs 350. “CESC’s Q4FY12 PAT of Rs2.7bn was ahead of our estimate of Rs2.0bn. This was primarily due to 13.3% tariff hike undertaken during the end of the quarter with retrospective effect. CESC
accounted for under-recoveries of the previous quarters during Q4FY12. Earnings were also boosted by increased RoE. Performance of its retail venture continued to improve with avg realisations rising by 7.4% YoY during FY12 to Rs1,060/sq ft/month against Rs987/sq ft/month in FY11. Maintain BUY with a target price of Rs350/share,” the Brokerage firm has stated.

(Disclaimer: The views expressed in this article are those of the author and may not reflect those of Greynium Information Technologies Pvt Ltd, its subsidiaries and associates. The author has made every effort to ensure accuracy of information provided; however, neither Greynium Information Technologies Pvt Ltd, its subsidiaries and associates, nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to buy, sell in precious metal products, commodities, securities or other financial instruments. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the author of this article do not accept culpability for losses and/or damages arising based on information in this article.)


Read more about: cesc dena bank
Story first published: Saturday, May 12, 2012, 10:04 [IST]
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