Hindustan Construction Company Ltd.
CMP: Rs. 128.60
Target Price: Rs.116
HCC came out with its Q2 FY10 results and conducted post results Analyst Meet on Friday, 23 October 2009.
Q2 F Y10 Results
Buy Polaris Software Lab Ltd.
CM Price: Rs168.50
Price Target: Rs225.00
A leveraged play to the recovery in financial services IT spending
• Initiate coverage with OW and Jun-10 P/E-based price target of Rs225; 50% upside: Polaris is one of the most leveraged plays in the Indian IT sector to the recovery of the global banking, financial services and insurance industries (BFSI), with 90% of its revenue from this segment. With Citibank already an anchor client and investor, we believe the global recovery is leading to good business traction at Polaris. We expect this traction to drive a 26% EPS CAGR over FY10- 12, leading to a gradual stock re-rating, driving our positive view.