BROKERAGE HOUSES RECOMMENDATIONS

Buy Kesoram Ind, tgt Rs 719: India Capital Mkt

Morgan Stanley underweight on BPCL
Morgan Stanley research has downgraded Bharat Petroleum Corporation to underweight rating with target of Rs 333. Research firm do not expect any major price rise in the next 12-15 months due to a possible election in the country

Bilcare an outperformer: First Global
First Global research has maintained outperformer rating on Bilcare. Given the strong topline and earnings growth of 30-35% expected for the FY07-08 period and a stronger growth from FY09 onwards

Buy Deccan Chronicle, tgt Rs 260: Angel Broking
Angel Broking has maintained buy rating on Deccan Chronicle with target price of Rs 260

Sell RCF, target Rs 68: HDFC Securities
HDFC Securities has downgraded Rashtriya Chemical Fertiliser from market performer to Sell rating on stock with downside target of Rs 68, implying downside potential of 23%

Buy TRF, target Rs 2164: HDFC Securities
HDFC Securities has maintained buy rating on TRF with target price of Rs 2164, implying upside potential of 25%. Research firm believes that TRF is poised for robust growth going forward with significant growth in profits.

Cummins India an outperformer, tgt Rs 585: ENAM Sec
Enam Securities has maintained outperformer rating on Cummins India with target price of Rs 585, implying potential upside of 40%.

Buy Madras Cement, target Rs 4800: Sharekhan
Sharekhan research has maintained buy rating on Madras Cement with target price of Rs 4800. The robust cash flow position of the company will make it well placed to withstand the downturn in the cement cycle.

Hold Power Finance: Kotak Securities
Kotak Securities Research has recommended gold rating on Power Finance Corporation in its December 05, 2007 report. PFC is currently trading at Rs 249, which is 19.5x its FY2009E EPS of Rs.12.8 and 2.8x its FY2009E Adjusted Book Value of Rs.88.8.

Buy Gail India; target of Rs 482: Citigroup
Citigroup Research has recommended buy rating on GAIL India with a target of Rs 482 in its December 05, 2007, report. Government is likely to appoint GAIL as nominee for the entire PMT gas from April 2008.

Brokers bullish on Bilcare, Deccan Chronicle, Elecon Engg
Brokerage houses are bullish on Bilcare, Deccan Chronicle, Elecon Engineering, Madras Cement, Gail and Cummins India.

DSP ML neutral on GMR Infrastructure
DSP Merrill Lynch has recommended neutral rating on GMR Infrastructure in its December 03, 2007 report. GMR with its key advantages has an excellent growth potential as the globe builds its infrastructure through the public-private partnership model.

Buy Glenmark Pharma; target of Rs 609: DSP ML
DSP Merrill Lynch research has upgraded Glenmark Pharma to buy from neutral rating with a target of Rs 609 in its December 04, 2007report.

Buy Nestle India; target of Rs 1775: DSP ML
DSP Merrill Lynch has recommended buy rating on Nestle India in its December 05, 2007 report. Research firm expects Nestle to be the fastest growing company in the consumer staples space in 2008.

Buy DLF; target of Rs 1108: CLSA
As per CLSA's research report on December 4, 2007, it is bullish on DLF and has recommended a 'buy' rating on the stock with a 12-month target of Rs 1108, which implies a 17% upside.