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Research
Teck Coverage Report - Microsec
Posted On : 2013-07-09 22:11:28( TIMEZONE : IST )
TCS: We rate TCS a HOLD with a target price of Rs.1,581.70 per share. The company is likely to remain top performer with in the sector, Furthermore, a depreciating Rs. is likely to bode well for the company in quarters to come. However, overhangs such as US immigration bill and persisting slowdown in Europe may have a negative bearing on its performance.
INFY: We rate INFY a HOLD with a target price of Rs.2,669 per share. Although the company is likely to remain under performer with in the sector, its reasonable valuations may keep some buying interest in the same in near term, Furthermore, a depreciating Rs. is likely to bode well for the company in quarters to come. However, overhangs such as US immigration bill and persisting slowdown in Europe may have a negative bearing on its performance.
Bharti: Bharti continues to remain our top pick in the telecom sector due to its leading position in the market, diverse geographical presence, and strong cash generation capability. We rate the company a STRONG BUY with a target price of Rs.417.20.
Eros: Going forward, Eros has some of high profile movies such as 'Rana', 'Kochadaiyaan', 'Bajate Raho', 'Ram Leela' and 'Krish 3' in the pipeline of FY2014. A scheduled release of these movies may provide a significant boost to the company's performance. Considering this, we kept our FY2014E earnings expectations unchanged for Eros. Consequently, we continue to rate the company a STRONG BUY with a target price of Rs.326.00 per share.
Dish TV: Going forward, Dish's plans to repay loans worth Rs.750 Crores in near term may provide a boost to its bottom line. The repayment may lead to a notable decline in the company's interest outgo, which is anticipated to expedite Dish's pace to turn profitable. In addition, the company has broadest HD portfolio with 25 HD channels and 17 HD services on its platform. With this, Dish will be the largest beneficiary of the government's digitization push, in our view. Consequently, we continue to rate the company a STRONG BUY with a target price of Rs.96.80 per share.
