Markets rallied this week, as Bank of Japan surprised with negative interest rates. The markets have staged some recovery since dipping in the early part of Jan 2016.
Religare is bullish on Colgate and has put a buy rating on the stock. "We pare our FY16-FY18 EPS by 4-9 per cent in view of lower sales growth than thought earlier. However, we maintain our BUY rating on attractive valuations of 33x/28 FY17/FY18 and roll over to a Mar'17 target price of Rs 1,080 (from a Sep'16 TP of Rs 1,100)."
Shares in Colgate last closed at Rs 856.50 on the Bombay Stock Exchange.
Lakshmi Vilas Bank
Axis Direct is bullish on Lakshmi Vilas Bank and has set a target price of Rs 120 on the stock.
"We reiterate BUY with a target price of Rs 112 (20 per cent upside), valuing it at 1.2x FY17E ABV of Rs 93. At CMP of Rs 93, LVB trades at 1.1x/1.0x FY16E/FY17E ABV of Rs 84/Rs 93.We believe, going forward, increase in CASA is likely to support NIM, which coupled with lower credit cost will drive RoA (0.8% by FY18)."
The shares of the bank closed at Rs 93.50 on the BSE.
ICICI Direct is bullish on Ashoka Buildcon.
"We continue to maintain our positive stance on the stock considering the strong track record, well funded BOT road project portfolio and huge opportunity from awarding in the road vertical, going forward. We also roll over our valuation to FY18 and value the stock with an SOTP based price target of | 235/share. We value ABL's BOT projects at | 37.7/share and its EPC business (net of debt) at | 97.2/share (6x FY18 EV/EBITDA) and ACL at | 68.3/share."
Shares in Ashoka Buildcon closed at rs 131 on the National Stock Exchange.
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