Tuesday, 15 September 2009

Buy Bajaj Hindusthan, target of Rs 246: Karvy

Karvy Stock Broking has recommended a buy rating on Bajaj Hindusthan with a target price of Rs 246 in its September 15, 2009 research report.

"We are revising our rating on Bajaj Hindusthan from 'Outperformer' to 'BUY' considering 40% increase in volume growth from recent contract (31 August 2009) for raw sugar import. The company has contracted to import raw sugar of 0.4 mn mt in addition to 0.3 mn contracted earlier on 28 July 2009 for refining during sugar season 2010 (October 2009 to September 2010). Target of Rs 246," says Karvy's research report.

Source: Moneycontrol

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