Mid-term picks by Antique Stock Broking

Great Eastern:

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BUY

MARKET PRICE: Rs 255.50

TARGET PRICE: Rs 304

A seasoned management team, which has seen many shipping cycles, strong cash reserves and conservative leveraging, optimum mix of time and spot charters across and reasonable valuations. Emergence of its offshore division should trigger rerating of the stock.

Sterlite Tech:

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BUY

MARKET PRICE: Rs 304.10

TARGET PRICE: Rs 405

World Class scale, cutting-edge technology, comprehensive product profile, strong management team and proven execution capabilities. With capital expansion in the power and telecommunication infrastructure segments inevitable, the company is best poised to secure business.

Opto Circuits:

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BUY

MARKET PRICE: Rs 209.40

TARGET PRICE: Rs 295

A formidable product range, cost-effective and technology-based player with emphasis on proprietary technology. An enviable track record of successful inorganic growth and geographical diversity of revenues add a degree of comfort.

Balrampur Chini:

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BUY

MARKET PRICE: Rs 147.95

TARGET PRICE: Rs 162

One of the most operationally efficient players backed by optimal integration (cogen and distillery) and a strong management team. Also, absence of any further capex along with strong operational cash flows would further strengthen its balance sheet.

Prakash Inds:

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BUY

MARKET PRICE:

TARGET PRICE: Rs 432

Expanding capacities of sponge iron and billets coupled with commissioning of iron ore mine would substantially reduce costs and improve margins. Moreover, its expansion of power capacities will aid in improving the operational parameters in the form of assured revenues as well as reducing costs.

ET Bureau

Antique Stock Broking has suggested the following five stocks as the mid-term picks.

DISCLAIMER: The views expressed in these pages are from brokerages, analysts and fund managers. Readers should seek professional investment advice before acting on any recommendation. ET does not associate itself with the choices. Check out the ET Code of Ethics at www.economictimes.com

Mid-term picks by Prabhudas Lilladher

Yes Bank:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 269.85
TARGET PRICE: Rs 288

Its high fee-generating business model due to strong presence in advisory, transactional banking and debt syndication gives it an edge over its peers. Due to higher growth and earnings visibility, we have revised our FY10E and FY11E earnings upward by 9% and 11.7%, respectively.

IVRCL Infrastructure:

Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 370.35
TARGET PRICE: Rs 437

The current order book and L1 projects stand at Rs 15,000 crore and Rs 4,500 crore, respectively. The order book is dominated by water-related projects at 70%. The order intake stood at Rs 2,200 crore. We have kept our estimates for FY10 unchanged, assuming a back-ended growth in H2FY10.

Motilal Oswal Financial:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 167
TARGET PRICE: Rs 230

Motilal Oswal declared results only marginally below estimates. The revenue growth was mainly led by equity broking and investment banking, while fund-based income lagged. Asset management continues to tick along well due to steady inflows in the PMS schemes. However, broking revenue still rose by 8.3% Q-o-Q due to a sharp increase in yields.

L&T

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 1,593.75
TARGET PRICE: Rs 1,863

L&T’s foray into railways, shipbuilding, fertiliser, nuclear, defence and aerospace would see strong order inflows. The order book of Rs 80,000 crore (approx) at 2.4 times FY09 earnings may provide strong revenue and PAT CAGR of 23.5% and 17.6%, respectively, from FY09-11E.

Reliance Infrastructure:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 1,101.90

TARGET PRICE: Rs 1,438

Reliance Infrastructure’s bidding for pipeline in the next few years is more than Rs 1 trillion. R-Power holding gives it a stake in the largest private sector power generation story in India. The current EPC order book stands at Rs 196.2 billion against the 1FY10 order book of Rs 200 billion.

ET Bureau

Prabhudas Lilladher has suggested the following five stocks as the mid-term picks.

DISCLAIMER: The views expressed in these pages are from brokerages, analysts and fund managers. Readers should seek professional investment advice before acting on any recommendation. ET does not associate itself with the choices. Check out the ET Code of Ethics at www.economictimes.com

Mid-term picks by India Infoline

Bank of Baroda:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 557

TARGET PRICE: Rs 666

BoB reported a 60% YoY growth in net profit for Q2 FY10. Its loans and deposits grew 4.4% on a QoQ basis. Margins improved 26 bps sequentially to 2.6% due to a sharp 7.2% QoQ improvement in CASA deposits. Repricing of some high-cost deposits will enable BoB to expand its margins. Global operations continues to remain profitable.

Dhampur Sugar Mills:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 133

TARGET PRICE: Rs 150

The sugar sector is in the midst of its strongest cyclical upturn in the past 15 years, with September ‘10 closing stock expected at less than 2.5 months worth of consumption. Dhampur Sugar is likely to process 0.2 mt of imported raw sugar in the current crushing season. We recommend ‘buy’ due to attractive valuations of 7.5 times 1-year forward earnings.

Infotech Enterprises:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 258

TARGET PRICE: Rs 306

Infotech’s niche character and rich clientele provide it with a better revenue visibility than similar-sized peers. Its top 5 and top 10 clients have grown by robust 37% and 45%, respectively, in the past six quarters, despite a global recession. Company has a strong fungible balance sheet with cash & equivalents at Rs 360 crore, a 30% of market cap.

KPIT:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 97

TARGET PRICE: Rs 115

KPIT delivered robust Q2 FY10 results with strong volume growth and significant margin improvement. The management is more certain about near-term revenue growth and expects a stable Q3 FY10 topline despite lower number of working days. Revenue growth is expected to pick-up from Q1 FY11 driven by the auto electronics segment.

Sanghvi Movers;

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 182

TARGET PRICE: Rs 220

Sanghvi Movers is one of the best plays on the increasing infrastructure spend in the country. Huge capacity expansion plans in sectors like cement, steel, roads and rail would propel order inflows. The company plans to expand its lifting capacity to 53,950 mt by FY10. Trading at 7.2x FY11E EPS of Rs 25.3, the stock appears cheap, recommend BUY.

Mid-term Picks by Bonanza Portfolio

Shree Renuka Sugars Ltd:

Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 227.65
TARGET PRICE: Rs 254

HCL Technologies Ltd:

Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 333.75
TARGET PRICE: Rs 380

Lupin Ltd:
Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 1317.00
TARGET PRICE: Rs 1680

NTPC Ltd:

Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 214.20
TARGET PRICE: Rs 290

BHEL:
Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

BUY

MARKET PRICE: Rs 2264.40
TARGET PRICE: Rs 2650