22 December 2006

mindra tec

We believe that between Rs 1680-1690 range it’s going to be some kind of pressure which will creep in into the stock. Again the stock is really positive, we have a very positive long-term outlook on the stock. But for short-term trader, we are recommending between Rs 1680-1690 to book some of those profits and wait for a correction to re-invest

mahindra and mahindra

"We are revising our price target for Mahindra and Mahindra (M&M) from Rs 870 to Rs 1,050 considering the continuing strong growth in its core businesses (mainly tractor) and the recent run-up in the prices of its subsidiaries, particularly Tech Mahindra."
"The growth in M&M's core business continues and shall be further fuelled by new launches like Ingenio and Shaan. Further, the launch of its new passenger car Logan next year, is not only a positive for its domestic business, but also opens further export possibilities."
"M&M's subsidiaries have been performing splendidly in the recent times. Tech Mahindra delivered a strong performance in the last quarter. Its robust order book should further drive up valuations. The plans for Systech are also on track with the management planning to make it a USD 1 billion company by FY2009."
"We maintain our Buy recommendation on the stock with a revised price target of Rs 1,050. At the current market price of Rs 848, the stock quotes at 12.7x its FY2008E consolidated earnings."
Valuations
"In view of the continuing growth in its core business, the improving product mix, the de-risked business model and the splendid performance of its subsidiaries, we are revising our price target for M&M to Rs 1050. At the current market price of Rs 848, the stock quotes at 12.7x its FY2008E consolidated earnings."

DISCLAIMER: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip.

by erectusplus at 15:49:00 |

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