Kotak - Subex Azure

Kotak recommends HOLD on Subex Azure

They expect an EPS of Rs.37.6 in FY08. Kotak is reducing our target price to Rs.572

Stock may underperform with revenue downward guidance revision

Target price of Rs 572

Kotak - Numeric Power Systems

Kotak recommends BUY on Numeric Power Systems with a target price of Rs 615

High margin business

Beginning Africa operations

Kotak - NIIT Limited

Kotak recommends a HOLD on NIIT Ltd with a target price of Rs 137 (CMP 144)

Potential divestment may provide upside

Kotak - TVS Motors

Kotak Securities recommends SELL/REDUCE on TVS Motors

Price target of Rs 51

Sales reducing, new launches critical, risky.

Kotak - HT Media

HT Media will take ad rate hikes for its Delhi edition

The second instance in the current fiscal post the hike in May across all editions.


Revenue momentum is expected to pick up in the seasonally better second half with new initiatives - 'Mint' and new editions of 'Hindustan' shaping well.

They retain BUY with a price target of Rs.270.

Kotak - Nicholas Piramal

Kotak has a HOLD on Nicholas Piramal.

They have a target price of Rs 320. Demerger is earnings accretive