Analysts' corner

Tata Consultancy Services & Bharat Electronics

TATA CONSULTANCY SERVICES
Reco price/date: Rs 1,263/Dec 26
Current/target price: Rs 1,258/Rs 1,410
Tata Consultancy Services (TCS) and Russian firm Navigation Information Systems (NIS) signed a co-operation pact to establish and strengthen technology partner relations between the two firms in software development, systems integration, professional services for and marketing of NIS products. It will serve as an industrial base for hi-tech rotorcraft products from Russia to India and contribute to the development of the domestic aerospace industry. Maintain Accumulate

Angel Broking

BHARAT ELECTRONICS
Reco price/date: Rs 1,214/Dec 26
Current/target price: Rs 1,304/Rs 1,610
Bharat Electronics Ltd’s (BEL) underperformance in the last 12 months, factors in weak project deliveries and low OI expectations for FY13E. However, with FY14-FY15 expected to see strong pick-up in both profitability and OI momentum, analysts expect BEL to outperform over the next 12-15 months. Despite weak first half, the management expects to post a turnover of Rs 6,300 crore, in line with its FY13 sales outlook.Maintain Buy.

Edelweiss Securities