Anand Rathi - Lakshmi Machine Works Ltd

Anand Rathi initiates coverage on Lakshmi Machine Works Ltd. with an Outferformer
rating and a price target of Rs 3,830, providing an upside potential of 22% over a period of 12 months.

At the CMP, the stock is ruling at 13.6(x) and 11.4(x) its FY08 and FY09 EPS
estimate of Rs 230 and Rs 275 respectively.