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Buy Patni Computer, target of Rs 150: Sunidhi Securities

Posted on: March 23rd, 2009 and is filed under Brokerage Recommendations.

Sunidhi Securities & Finance has recommended its buy rating on Patni Computer Systems with a target of Rs 150 in its March 23, 2009 research report. “Patni’s revenue has affected due to the global meltdown as well as current financial crisis resulting pressure both on prices and volumes. We however believe that global outsourcing will rise as the current situation settles down.

PCSL’s foray into Mobile Virtual Network Operators (MVNOs), its efforts to increase volume in the Indian market, local services partnership with SAP Japan and tie up with Tokyo-based electronics company Hitachi for jointly promoting and implementing Hitachi’s integrated systems management give good revenue visibility in the coming years. We recommend ‘BUY’ with a target of Rs 150,” says Sunidhi Securities & Finance’s research report.

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