1.Gujarat Fluorochemicals -- Buy
Market Price - Rs.511; Target Price - Rs.571
The firm is likely to benefit from the growth in the Indian chemical industry. Its profit grew by 551% in October- December 2011.
2. Bharti Airtel - - Buy
Market Price - Rs.337; Target Price - Rs.425
Any upside surprise should result in out performance as we believe that the 10% under performance since February prices in the negatives.
3.Cox and Kings - - Buy
Market Price - Rs.164; Target Price - Rs.195
We maintain 'buy' since the current depressed valuations overlook the long-term synergy and growth potential.
4.GSFC - - Buy
Market Price - Rs.423; Target Price - Rs.515
The Company is moving ahead with various growth projects, which should begin contributing to earnings in 2012-13.
5. Blue Star - - Sale
Market Price - Rs187; Target Price - Rs.151
We downgrade from 'reduce' t 'sell' due to tepid growth, poor margins expected in EMP segment and weak volumes in room ACs.
6. Hindustan Unilever - - Sale
Market Price - Rs.410; Target Price - Rs. 403
The current stock price does not factor in risks emanating from channel rivalry and trouble brewing in the general trade distributors.
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