Company: Infosys Technologies
Broking House: Angel Broking Ltd
Current Price: Rs 1,202.55
Infosys recorded a strong 11.6 per cent Q-o-Q and 32 per cent Y-o-Y growth in top-line for the quarter ended September 30. The significantly higher rupee growth rate was on account of the higher rupee-dollar exchange rate during the quarter (six per cent Q-o-Q ). The broking house has tipped the software major to post a CAGR growth of 21.2 per cent in the top-line over FY2008-10E, while the bottom-line would grow at a CAGR of 18.5 per cent over the same period. It has downgraded the earnings per share estimates for FY2009E and FY2010E by around 1.5 per cent and 3.2 per cent respectively. It has maintained a “buy” on the stock, with a revised 12-month Target Price of Rs1,713 as against the earlier Rs 2,124.
Company: Axis Bank
Broking House: Emkay
Current Price: Rs 619.30
Axis Bank’s Rs 400 crore net profit for the second quarter of 2008-09 ending September 30, has far exceeded the expectations in the current market scenario. The robust earnings performance has been driven by better than expected net interest income and other income. The NII has grown by 55.2 per cent Y-o-Y, while the other income has grown by 81.4 per cent Y-o-Y. The operating profit for the bank has grown by 88.9 per cent over the same period in 2007-08 to Rs 870 crore led by robust growth in the operating income. The liability profile for the bank has remained strong with current and saving account deposits maintained at the 40 per cent mark. The broking house has maintained its “buy” rating for the stock.
Company: Maruti Suzuki India
Broking House: Edelweiss
Current Price: Rs 640.45
The near term outlook for Maruti Suzuki is subdued, given modest domestic sales and low margins expected for the second quarter in row. However, the retail sales have been robust so far in October given multiple festivals falling together. For the long term, the company is targeting to achieve sales of 10 lakh units in the domestic market and export 2 lakh units by 2011-12. The company also has plans to widen its distribution network from the current 600 service points to 1,000 by 2011-12. Its product strategy is to pack the high-volume compact segment (A2) with a range of products. The company’s “world strategic model” A-star will be launched at the same time in Japan, Europe, China, and India in November 2008. The broking house has maintained an “accumulate” recommendation on the stock.
Broking House: Angel Broking Ltd
Current Price: Rs 1,202.55
Infosys recorded a strong 11.6 per cent Q-o-Q and 32 per cent Y-o-Y growth in top-line for the quarter ended September 30. The significantly higher rupee growth rate was on account of the higher rupee-dollar exchange rate during the quarter (six per cent Q-o-Q ). The broking house has tipped the software major to post a CAGR growth of 21.2 per cent in the top-line over FY2008-10E, while the bottom-line would grow at a CAGR of 18.5 per cent over the same period. It has downgraded the earnings per share estimates for FY2009E and FY2010E by around 1.5 per cent and 3.2 per cent respectively. It has maintained a “buy” on the stock, with a revised 12-month Target Price of Rs1,713 as against the earlier Rs 2,124.
Company: Axis Bank
Broking House: Emkay
Current Price: Rs 619.30
Axis Bank’s Rs 400 crore net profit for the second quarter of 2008-09 ending September 30, has far exceeded the expectations in the current market scenario. The robust earnings performance has been driven by better than expected net interest income and other income. The NII has grown by 55.2 per cent Y-o-Y, while the other income has grown by 81.4 per cent Y-o-Y. The operating profit for the bank has grown by 88.9 per cent over the same period in 2007-08 to Rs 870 crore led by robust growth in the operating income. The liability profile for the bank has remained strong with current and saving account deposits maintained at the 40 per cent mark. The broking house has maintained its “buy” rating for the stock.
Company: Maruti Suzuki India
Broking House: Edelweiss
Current Price: Rs 640.45
The near term outlook for Maruti Suzuki is subdued, given modest domestic sales and low margins expected for the second quarter in row. However, the retail sales have been robust so far in October given multiple festivals falling together. For the long term, the company is targeting to achieve sales of 10 lakh units in the domestic market and export 2 lakh units by 2011-12. The company also has plans to widen its distribution network from the current 600 service points to 1,000 by 2011-12. Its product strategy is to pack the high-volume compact segment (A2) with a range of products. The company’s “world strategic model” A-star will be launched at the same time in Japan, Europe, China, and India in November 2008. The broking house has maintained an “accumulate” recommendation on the stock.
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