Firstcall Research is bullish on Transport Corporation of Indiaand has recommended buy rating on the stock with a target of Rs 72 in its October 10, 2012 research report.
"Transport Corporation of India Ltd India's leading integrated supply chain and logistics solutions provider, reported its financial results for the quarter ended 30th June, 2012. The first quarter witness a healthy increase in overall sales as well as profitability of the company. The company's net profit jumps to Rs.135.70 million against Rs.134.40 million in the corresponding quarter ending of previous year, an increase of 0.97%. Revenue for the quarter increase 9.97% to Rs4574.20 million from Rs.4159.40 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs.1.87 a share during the quarter, registering 1.04% increase over previous year period. Profit before interest, depreciation and tax is Rs.386.30 millions as against Rs.344.50 millions in the corresponding period of the previous year."
Nirmal Bang is bullish on JBF Industries and has recommended buy rating on the stock with a target of Rs 199 in its October 10, 2012 research report.
"We paid a visit to the plants of JBF Industries at Silvassa, Dadra & Nagar Haveli and also at Sarigam, Gujarat. The company has 608,000/279,020tpa chip/POY facilities at Sarigam/Silvassa units, respectively, contributing 61% to consolidated FY12 sales. We have retained our revenue/margin estimates but following higher depreciation/interest costs, we have cut net profit estimates by 15.7%/12.9% for FY13E/FY14E, respectively. As the company has embarked on an aggressive growth plan with a capex of US$1bn over FY12E-16E, we have changed our valuation method from PE-based to EV/EBITDA-based to factor in huge debt and roll forward target multiple to FY14 estimate (from FY13). Despite aggressive capex of US$1bn, we don't expect peak D/E to cross 2.5x (with gross debt of ~Rs65bn) in FY15E following strong operating cash flow and the D/E ratio may in fact taper off to 1.0x by FY18E. We retain our Buy rating on the stock with a revised TP of Rs199 (from Rs169) based on 4x FY14E EV/EBTDA."
Nirmal Bang is bullish on Bajaj Corp and has recommended buy rating on the stock with a target of Rs 228 in its October 9, 2012 research report.
"We have upgraded our FY13E and FY14E earnings estimates for Bajaj Corp (BCL) by 6.4% and 3.7%, respectively, factoring in higher gross margins. Consequently, we have increased our target price on the stock to Rs228 (from Rs220 earlier) and retained Buy rating on it."
SPA Research has recommended hold rating on Infosys with a target of Rs 2700, in its October 12, 2012 research report.
"Infosys registered a steady USD revenue growth of 2.57% to $1797mn though lower than our expc. of $1811mn. The growth was on the back of 3.8% volume growth. The EBIT margins however declined by 170bps to 26.3% on the back of higher subcontracting cost and wage hike. The organic guidance for USD revenue growth was unchanged at "Atleast 5%" but the INR EPS guidance was revised down by 4% to "Atleast 160.61". Resignation and reassignment of Mr. Balakrishnan does not add to our confidence. Thus, we continue to recommend HOLD with a 18 month TP of INR 2700."
While, Emkay Global Financial Services is bullish on Infosys and has recommended accumulate rating on the stock with a target of Rs 2575 in its October 12, 2012 research report.
Dolat Capital is also bullish on Infosys and has recommended accumulate rating on the stock with a target of Rs 2710 in its October 12, 2012 research report.
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