Angel Broking is bullish on Tech Mahindra and has recommended the stock with a buy target of Rs 1531.
"Tech Mahindra remains confident of improving revenue growth citing healthy deal pipeline along with pick up in discretionary spending, primarily in the US. Modest demand in the telecom vertical (non-BT business), improved diversification post merger with Satyam with increase in deal win ratio and focus on products and platforms bode well for the company. Further given significant currency tailwinds akin to peers, Tech Mahindra remains confident of maintaining margins at current levels. We expect a CAGR of 11% and 17% in USD and INR revenue over FY2013-15E. We reiterate our Buy rating on TechM with a target price of Rs 1,531," a research report from Angel Broking states.
Motilal Oswal has put a buy rating on Glenmark Pharma.
"We expect GNP to gradually reduce its net debt over FY14-15, resulting in debt-equity improving from 1x in FY13 to 0.7x by FY15. Return ratios will gradually improve over the next two years, with RoCE increasing from 16% in FY13 to 20% in FY15 and RoE increasing from 18% to 21%. GNP has differentiated itself among Indian companies through its significant success in NCE research (resulting in licensing income of USD205m till date). Maintain Buy with a target price of INR633," Motilal Oswal has stated in its research report.
Firstcall Research has put a buy call on Astra Poly. "
'We expect that the company surplus scenario is likely to continue, will keep its growth story in the coming quarters also. We recommend ‘BUY' in this particular scrip with a target price of Rs 245 for Medium to Long term investment. At the current market price of Rs 227, the stock P/E ratio is at 17.94 x FY14E and 15.07 x FY15E respectively," the firm has stated in its research report.