Date : 1.12.2011 Time :10.23
Top ten Stock Picks for medium term investment
APOLLO TYRES: The FY11and FY12 consolidated earnings estimates are Rs 7.8 and Rs 9.7 respectively. The FY11 consolidated earnings estimate is 11.9% higher than consensus expectation of Rs 6.9. http://www.goldennifty.com
GODAWARI POWER: The earnings estimates are below consensus, mainly because I have not included Ardent Steel in The projections. Buy Godawari PoIr with a target of Rs 276.
HCL TECH: The revenue estimates vary from Consensus by ~1%, underpinned by stronger volumes and modest uptick in pricing for FY12. http://www.goldennifty.com The EBITDA margin forecast for FY12 is in line withconsensus.TheFY12EPSestimate is also in line with consensus. Buy the stock with a target of Rs 488.
IRB INFRA: The FY11 and FY12 earnings estimates are Rs 15.6 and Rs 15.2, 9.8% higher and 6.1% loIr than consensus respectively.
JAGRAN PRAKASHAN (JPL): The revenue estimates vary from consensus by ~8% for FY12E. The FY12 net margin forecast of 19% is in line with consensus.
Mahindra and Mahindra (M&M): I expect EPS of Rs 41.3 and Rs 45.5 in FY11 and FY12 respectively. http://www.goldennifty.com The FY11 earnings estimate is 8.2% lolr than consensus expectation of Rs 44.9. I value M&M using SOTP methodology at Rs 872, discounting the standalone business at 15x FY12E earnings.
NIIT TECH: The top-line estimates vary from consensus by ~5.3%, underpinned by stronger volumes and modest uptick in pricing for FY12. The EBITDA margin estimate for FY12 is 20.6% which is in line with consensus. The FY12 EPS estimate is 4.3% higher than consensus. Buy the stock with a target of Rs 278.
SHREE CEMENT: The FY11 and FY12 earnings estimates are Rs 133 and Rs 168 respectively. The FY11 EPS estimate is 5.9% higher than consensus expectation of Rs 126.
TATA STEEL: The FY12 consolidated estimates are almost in line with consensus. I value Tata Steel using SOTP methodology at Rs 759. http://www.goldennifty.com
USHA MARTIN: The operating profit estimates are slightly loIr than consensus as I remain cautious on volumes (The FY12E sales volume is 0.67mnt vs.
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