Buy Aban Offshore, target of Rs 3493: Reliance Money
Reliance Money has recommended a buy rating on Aban Offshore with a target of Rs 3493 in its September 18, 2008 research report. “During the past few months, Aban Offshore has significantly underperformed the markets, basically due to concerns on expected oversupply of rigs, and inability of Aban to secure contracts for some of their new rigs. However, we believe that these concerns are overdone, and current price correction presents a good opportunity for long term investors to enter the stock. Moreover, recent contract winnings by the company only reiterate the strong demand for rigs in global markets. Looking at the excellent revenue visibility and exponential growth ahead, we believe Aban is very well poised to reap the benefits of current upturn in oil services business. We recommend buy with target price of Rs 3493,” says Reliance Money’s report.
onlineequitycalls.com
Buy GMDC, target of Rs 203: Asit C. Mehta
Asit C. Mehta has recommended a buy rating on Gujarat Mineral Development Corporation (GMDC) with a target of Rs 203 in its September 16, 2008 research report.
“We consider Sum of the Parts valuation (SOTP) to be the most appropriate valuation method for GMDC. While arriving at SOTP valuation we have considered Enterprise value per Reserves tonne for mining business, and Asset Replacement cost for power business. Based on this approach, we recommend a “BUY” on GMDC with a price target of Rs 203,” says Asit C. Mehta’s research report.
Brokers bullish on HDFC Bank, ICICI Bank
- Credit Suisse has maintained underperform rating on Ranbaxy, with a target of Rs 390
- Citi has downgraded Info Edge to hold rating, with a target of Rs 860
- Macquarie has maintained neutral rating on ONGC, with a target of Rs 995
- Macquarie has maintained outperform rating on HDFC Bank, with a target of Rs 1439
- Macquarie has maintained underperform rating on ICICI Bank, with a target of Rs 435
- Enam has maintained underperform rating on SBI, with a targetof Rs 1800
- India Infoline has maintained reduce rating on Nalco, with a target of Rs 390
- India Infoline has maintained sell rating on Bajaj Hind, with a target of Rs 122
- Kotak Institution has upgraded Cairn India to add rating, with a target of Rs 245
- Kotak Institution has maintained add rating on ICICI Bank, with a target of Rs 870
- Merrill Lynch has kept buy rating on ICICI Bank, with a target of Rs 1010
Source : MoneyControl
India Infoline plans offshore, on-shore AMC biz in 6 months
Nirmal Jain, Chairman and Managing Director of India Infoline said that his company plans to launch offshore as well as on-shore asset management (AMC) business. He is trying to get a license in Singapore to start an AMC there. Jain plans to build good asset base in this business in three to five years. Their institutional business is accepted well in foreign markets, he said.
Source : MoneyControl
Courtesy/Source: http://www.onlineequitycalls.com/
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