HDFC Securities has maintained a buy rating on Tanla Solutions target price of Rs 1074. "Tanla has consistently offered excellent quarterly results and hence it remains our top pick in Mid cap IT services. We believe, with the recent fall in the equity market, the stock is looking very attractive because it faces little risk from slowing industrial spending. Tanla trades at 14x and 9x its FY08E and FY09E EPS of Rs 31.93 and Rs 48.50 respectively".
"Our target price of Rs 1074 (potential upside of 144%) includes Rs 992 for the core business (target multiple of 23x its core earnings of Rs 42.90 per share FY09E) and Rs 82 for its non-core business (interest and dividend incomes). We maintain a BUY rating on Tanla Solutions" says HDFC Securities.
"Our target price of Rs 1074 (potential upside of 144%) includes Rs 992 for the core business (target multiple of 23x its core earnings of Rs 42.90 per share FY09E) and Rs 82 for its non-core business (interest and dividend incomes). We maintain a BUY rating on Tanla Solutions" says HDFC Securities.
Kotak securities has maintained a buy rating on Nitin Fire Protection price target of Rs 650. "For FY08E, we now expect Nitin Fire Protection (NFPIL) to report revenues of Rs 1.4 billion, EBIDTA margins of 18.4% and PAT of Rs 203 million. Consequently, we expect the company to report lower EPS of Rs 16.1 as against our earlier estimate of Rs 20.1. However, we maintain our FY09E earnings estimates and expect NFPIL to report EPS of Rs 41.0 in FY09E. This is primarily because the plant has now stabilized. Thus, its FY09E numbers would not be impacted".
"We believe the current valuations are very attractive considering the clear growth prospects of the company, going forward. This is due to the strong order book for its CNG cylinders business. This would lead to 99.0% CAGR in revenues and 129.8% CAGR in net profits from FY07 to FY09E. We continue to recommend BUY with an unchanged price target of Rs 650" says Kotak securities .
"We believe the current valuations are very attractive considering the clear growth prospects of the company, going forward. This is due to the strong order book for its CNG cylinders business. This would lead to 99.0% CAGR in revenues and 129.8% CAGR in net profits from FY07 to FY09E. We continue to recommend BUY with an unchanged price target of Rs 650" says Kotak securities .
