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Stock picks for October 12, 2012


Stock picks for October 12, 2012
Here are a few stock ideas from leading brokerage houses in the country.

IndusInd Bank

Nirmal Bang is bullish on IndusInd Bank and has recommended buy rating on the stock with a target of Rs 413 in its October research reports.


"The Bank announced results in-line with expectation with a net interest income of Rs.510 crore and PAT of Rs.250 crore. Pre-provisioning profits came at Rs.420 crore. The loan book grew by 31 per cent y-o-y and 6 per cent q-o-q. This was aided by a deposit growth of 24 per cent y-o-y. The growth in the core fee income continues to outpace the growth in the Balance Sheet. There was a marginal improvement in NIMs at 3.25 per cent compared to 3.22 per cent during June quarter. Return ratios continued to remain strong with an RoE of 20.45 per cent. The Bank would continue to expand as per the planned phase, the target is to touch a figure of 500 branches by March 2013. The present figure stands at 441. Despite this, the Cost/Income ratio has improved to 49.4 per cent compared to 49.87 per cent during the previous quarter. The asset quality of the Bank continues to remain strong with gross NPAs at 1.03 per cent and net NPAs at 0.29 per cent. The Provision Coverage Ratio (PCR) stands at 72 per cent."

KRChoksey is also bullish on IndusInd Bank and has recommended accumulate rating on the stock with a target of Rs 400 in its October 11, 2012 research report.

Tata Steel:

Angek Broking is bullish on the Tata Steel Ltd and has recommended buy rating with target price of Rs 481.

In the second quarter of FY13, company's hot metal production increased by 6.4% year-on-year to 2.1 million tonnes(mt), crude steel production increased by 10.6% y-o-y to 1.9 mt and saleable steel production increased 9.3% to 1.8mt. The deliveries also increased by 4.9% y-o-y to 1.7 mt.


Motilal Oswal is bullish on the ICICI Bank and recommends buy rating on the stock with target price of Rs 1,200.


The stock of ICICI Bank Ltd has formed an inverse head and shoulder pattern which was confirmed with a breakout above neckline at Rs 1,000. The recent consolidation can be termed as a continuation pattern and the odds are high for an upward breakout. Maintain a stop loss of Rs 1,038.

DISCLAIMER: GoodReturns provides you with information covering shares, futures and options based on broker's reports as stated on various media. Investors are, however, warned that they should NOT take any buy or sell decision based on these views expressed in the article. Investors should consult their own financial and share advisors before taking purchase or sale decisions. GoodReturns does not take any responsibility for any losses incurred by investors who take their cues from the above article.

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