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Wednesday, January 14, 2009

Stocks to buy now - SIMPLEX INFRA, INFOSYS, AXIS BANK

Stock research report based on recent results/happenings from various stock market research houses. Mentioned stocks can be good stocks to buy for your investment portfolio in 2009.

SIMPLEX INFRA
CMP: RS 157.35
TARGET PRICE: RS 264
PINC Research has initiated coverage on Simplex Infrastructures (SIL) with a ‘buy’ rating. According to PINC, SIL has exhibited a strong growth metrics over the past five years. The company’s revenues have grown at a compounded annual growth rate of roughly 45% over FY04-08, while its net profits have grown around 75% during the same period. “We believe the company having garnered proficiency in technical know-how and execution skills across diverse sectors, is presently in the midst of a steep growth trajectory.

Further, a robust & diversified order book of approximately Rs 20,700 crore (2.5 times FY09 estimated revenues) provides earnings visibility over the next 18-20 months,” Pinc Research said in its report. The broking house believes that the SIL stock is largely undervalued and doesn’t capture the fair value of its extensive execution capabilities and new business initiatives.

INFOSYS TECH (One of the best stock to buy in Indian IT sector)
CMP: RS 1,230.20
TARGET PRICE: 1,500
JP Morgan has assigned an ‘overweight’ rating to Infosys Technologies, following its third quarter numbers, which the brooking house has termed as ‘decent’. The Bungler-based company’s FY09 guidance was largely unchanged in rupee and constant currency terms but reduced by 1-2% in US dollar terms due to currency movements. The broking house said the software bellwether’s Q4FY09 (January-April) guidance was weak as expected with US dollar revenue growth of -4-0% quarter-on-quarter and EPS decline of 2%.

“We believe that Infosys results are largely in line with expectations. While business might remain weak near term, offshoring trend remains on track in our view and we expect acceleration in H22009 as IT budgets get closed,” the report said. The outfit remains fundamentally positive on Infosys, given offshoring trend, strong execution track record and high corporate governance standards.

AXIS BANK
CMP: RS 440.15
TARGET PRICE: RS 645
Kotak Securities has assigned a ‘buy’ rating on Axis Bank — the third-largest private sector bank in the country — citing strong growth in its net interest income (24.4%) and a net profit(63.2%) for the December quarter, driven by healthy growth in its core business, strong traction in non-interest income and some writeback of provisions. “We are slightly tweaking our earnings estimates upward to incorporate higher non-interest income for FY09E and FY10E,” Kotak Securities said in its report.
Checkout: MultiBagger Stock:Axis Bank

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