Sharekhan - International Combustion

Sharekhan recommends a BUY on International Combustion (India)

Price target: Rs519

Current market price: Rs391

Sharekhan - Ashok Leyland

Ashok Leyland
Cluster: Ugly Duckling
Recommendation: Hold
Price target: Rs42
Current market price: Rs39

For the full year, the company expects the commercial vehicle industry to grow by 5-6%. Sharekhan estimates that the overall volumes for the company will decline by 4.7% in the current year but to grow by 13% the next year.

Sharekhan - India Cements

Recommendation: Buy
Price target: Rs300
Current market price: Rs263

Price target revised to Rs300

Sharekhan - Bajaj Auto, Nicholas Piramal

Sharekhan upgrades Bajaj Auto to BUY with a price target: Rs 2550

Sharekhan has a price target of Nicholas Piramal with a target price of Rs 326

Sharekhan - KEI Industries - Indian Hotels

KEI Industries - Recommendation: Buy - Price target: Rs125

Sharekhan believes that the fully diluted earnings per share (EPS) for FY2008Eis at Rs6.9. FY2009E earnings which on fully diluted equity is Rs10.4 per share. They remain positive on the stock and maintain our Buy recommendation with a revised price target of Rs125.

Indian Hotels Company - Recommendation: Buy - Price target: Rs180

Room rates to boost earnings