Research Calls

Tata Steel

Recommendation: buy at Rs 122 Prabhudas Lilladher Securities

After a recent company visit, PL Securities has reiterated its market outperformer recommendation on Tata Steel at Rs 122, with a target price of Rs 150.

The stock is trading at a price-earnings ratio of 6x and an EV/EBIDTA of 4.3x FY2003 estimated earnings. The key positives are that the prices of flat products continue to stay firm, cost reduction efforts remain on course and volumes continue to show robust growth on the back of a surge in exports.

Infosys Technologies

Recommendation: Buy at Rs 3,422

UBS Warburg Securities

After the company