Hold Oracle Financial: Indiabulls Securities
Indiabulls Securities Research has maintained its hold rating on Oracle Financial Services Software in its report dated July 3, 2009.
“With an 18.4% yoy revenue growth in Q4’09, Oracle Financial Services Software Limited (Oracle) completed FY09 with a strong 23% yoy growth despite the adverse demand environment. The revenue from Product segment and the Service segment grew by 31% yoy and 11% yoy, respectively.”
“Besides, the company reported a 686 bps expansion in the EBITDA margin, thanks to its cost containment efforts. Although the company has been resilient to the sluggish market, we expect a tough time for the IT industry to prevail at least for the next three-four quarters. Our DCF valuation gives a fair value of Rs 1,182 for the stock. Thus, we maintain a Hold on the stock,” says Indiabulls Securities’ research report.
source: Moneycontrol
Tags: buy or sell oracle financial stock, indiabull security tips, oracle financial buy
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