BROKERAGE RECOMMENDATIONS

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BROKERAGE REPORTS DATED 10th MAY 2008

[source:moneycontrol.com]
PINC Research has maintained its buy rating on Pratibha Industries with a 12-month price target of Rs 480 in its May 8, 2008 research report. "Pratibha Industries Ltd’s (PIL’s) sales doubled to Rs 2.2 billion in Q4FY08. This was on back of a strong order book and increasing contribution from its HSAW pipes division. However, surge in raw material cost/sales by 478 bps led to a slide in OPM to 10.3%. This along with higher depreciation contained net profit growth to 61% at Rs 103 million. PIL’s current order book (core construction business) stands at Rs 20 billoion, with major chunk (60%) being accounted for by Water Management Projects (WMPs). While urban infrastructure projects constitute 32% of the order book, road projects account for the balance."
"At the CMP of Rs 327, PIL trades at a P/E of 8.2x and EV/EBIDTA of 5.9x FY10E earnings. A healthy order book, strong presence in WMPs and revenues from the pipe manufacturing should enable PIL to capitalise on opportunities in the infrastructure sector. We maintain a ‘BUY’ recommendation with a 12-month price target of Rs 480," says PINC research report.

[source:ndtvprofit.com]
GATEWAY DISTRIPARKS : I would recommend the investors to hold or even buy at the current levels. In the short-term, the counter has resistance at Rs 130 levels and it is likely to reach Rs 175 levels in a year’s time.: Ashu Kakkar: Tech Analyst: skypowerfinancialservices.com:

IDEA CELLULAR LTD : I would advice the investors to hold the stock. The counter is moving between Rs 95 and Rs 115 levels. But if it breaks Rs 115 levels, then it has potential to reach Rs 130 levels.: Bharat Dalal: Technical Analyst: Dawnay Day AV Financial Services.

TATA STEEL LTD : I recommend the investors to hold the stock. The counter looks strong on the charts and once it crosses Rs 920 levels, then it will move upward sharply.: Bharat Dalal: Technical Analyst: Dawnay Day AV Financial Services.

ITC LTD : I advice the investors to hold the stock. The counter has support at Rs 205levels and resistance at Rs 222 levels. It is a defensive stock and so the investors should remain invested.: Bharat Dalal: Technical Analyst: Dawnay Day AV Financial Services.

AXIS BANK LTD : I would advice the investors to hold the stock for long-term. The Q4 results of the bank were good and it is in uptrend. So, the investors should remain invested.: DD Sharma: VP-Research: Anand Rathi Sec.

WELSPUN INDIA LTD : I recommend the investors to hold the stock. Though the appreciating rupee had an impact on the margins of the company in the past, things look better now. So, I would suggest the investors to stay invested.: DD Sharma: VP-Research: Anand Rathi Sec.

GMR Infrastructure : I advice the investors to hold the stock. The company has good projects in pipeline and the prospect is impressive. So, the investors should remain invested.: VVLN Sastry: Country Head: Firstcall India Equity Advisors.

EDUCOMP SOLUTIONS LTD : I would recommend the investors to hold the stock. The counter is extremely overvalued and so the investors should look to book profits at every rally.: VVLN Sastry: Country Head: Firstcall India Equity Advisors.

ITC LTD : I would recommend the investors to hold the stock. I am bullish on the counter and it is poised to do well in the coming days. It is in uptrend at the current levels.: Hormuz Maloo: Technical Analyst: Geojit Financial Services.

UNITED SPIRITS LTD : I advice the investors to hold the stock for the long-term. I expect it to outperform the markets in the days ahead. But the investors should remain invested for longer period. : Hormuz Maloo: Technical Analyst: Geojit Financial Services.

RELIANCE PETROLEUM LTD : I recommend the investors to hold the stock. The counter will perform well in the days ahead and it will reach decent target if it crosses Rs 205 levels.: PK Agarwal: President Research: Bonanza Portfolio Ltd.

GMR Infrastructure : I advice the investors to buy the stock. The counter looks good fundamentally and has good projects in pipeline. So, the investors can bet on this counter for the long-term.: Anita Gandhi: Head Institutional Business: Arihant Capital.

RELIANCE INDUS INFRASTRUCT : I would recommend the investors to hold the stock. The counter seems to be in uptrend and Rs 1740 level will be the next target. So, the investors should remain invested.: Hemen Kapadia: CEO: chartpunditcom.

ARVIND MILLS LTD : I would recommend the investors to hold the stock. The performance of the entire textile segment wasn’t good last year. But the counter looks impressive at the current levels and I expect it to do well in the days ahead.: Anita Gandhi: Head Institutional Business: Arihant Capital.

MINDTREE CONSULTING LTD : I would advice the investors to hold the stock. The company is doing well and it has upside potential. The outlook for the IT sector is also good.: Anita Gandhi: Head Institutional Business: Arihant Capital.

Gitanjali Gems Ltd : I recommend the investors to hold the stock. The counter is in medium term uptrend and I expect it to reach Rs 300 levels in the near future.: Hemen Kapadia: CEO: chartpunditcom.