HDFC Securities - Tanla Solutions

HDFC has a BUY on Tanla Solutions with a target price of Rs 706

Tanla trades at 13.9x and 8.9x its FY08E and FY09E EPS of Rs 31.18 and Rs. 48.15 respectively.

The target price of Rs 706 includes Rs 646 for the core business and Rs 60 for its non-core business (Interest and Dividend incomes).

HDFC Securities - XL Telecom

HDFC Securities has a target price of Rs 190 to 215 on XL Telecom.

They advise a stop loss of Rs 145.

The current market price is about Rs 158

HDFC Securities - Northgate Technologies

HDFC recommends a hold on Northgate Technologies at the current price of Rs. 1294

Operating margins might be under strain as NTL tries to expand