stocks Houseviews on stocks
MUMBAI: Houseviews on stocks:
Macquarie on Tata Steel
Recommendation: Outperform
Target: Rs 584
Rationale
Upgrading steel price forecasts
Structural increase in margins over next two years
Debt declining and comfortable liquidity
Corus to ramp production which may lead to lower cost/tn
HSBC on ITC
Recommendation: Overweight
Target: Rs 264
Rationale
Favourable risk-reward balance after recent stock pullback
concerns on tax, competition, monsoon overdone
Upside risks to EPS, fuelled by potential price increases on
certain brands
Karvy on Bajaj Hind
Recommendation: BUY
Target: Rs 246
Rationale
40% increase in volume growth from recent contract for raw sugar import
Sugar sale from imported raw sugar is exempted from 10% levy sugar
Expected to produce 0.7 mn mt of sugar from cane in sugar season 2010
Increased sugar production estimates by 29.2% from 1.05 mn mt to 1.36 mn mt
source: UTVI
Tags: house views on stocks, karvy broking service, Macquarie tips, tata stell buy or sell
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