Suzlon Energy can move upto Rs 75: SP Tulsian

SP Tulsian, sptulsian.com feels that Suzlon Energy can move upto Rs 75 in next 6 months or so.

Tulsian told CNBC-TV18, "Suzlon Energy - all the positive news and indications are coming in – Hansen stake sale, RePower getting squeezed or delisted or even the enabling resolution to raise Rs 5000 crore because in the last rights issue also we have seen the amount getting infused from the promoters or the associates because at that time the rights issue was made at much higher price than the prevailing market price, so maybe the debt of about Rs 12,000 crore, which is still remaining in the books of company may get partly liquidated by this fresh capital raising plan."

He further added, "If you see the results of Q1 all this indicates that management is now firm and taking the positive and affirmative steps which should go well for improving the valuations of the stock and I am expecting that the share can move to about Rs 75 level in the next 6 months or so."

Source:moneycontrol.com

Buy Sterlite Industries; target of Rs 205: Angel Broking

Angel Broking is bullish on Sterlite Industries and has recommended buy rating on the stock with a target of Rs 205 in its July 25, 2011 research report.

“Sterlite Industries’ (Sterlite) consolidated net revenue for 1QFY2012 stood at Rs 9,824cr, slightly below our estimate of Rs 10,200cr. Net profit at Rs 1,640cr was also slightly below our estimate of Rs 1,700cr. For 1QFY2012, Sterlite’s consolidated net sales grew by 65.8% yoy to Rs 9,824cr. Top-line growth was aided by higher metal sales volume as well as metal prices. Further, merchant power sales during the quarter increased by 244.2% yoy to 1,652mn units. However, the company’s power tariff declined by 28.7% yoy to Rs 3.6/unit.”