Ashish Maheshwari of India Capital Markets is of the view that ICSA India has target of Rs 600.

Maheshwari told CNBC-TV18, "ICSA is a company which is doing very well in the last few years. The company has done remarkably well, besides this, if we see data like in FY06, the company was having only a turn over of around Rs 81 crore, which we are envisaging that in 2010 it will be around Rs 1,000 crore, and on the bottom line site, the company was having a profit of around Rs 15 crore in FY06, we are expecting it to touch at around Rs 200 crore."

He further added, "This company is also having a very unique business model that is software for power and oil and gas, and recently they have venture into the EPC contract for oil and gas and water management. What we are advising our clients to look at those companies right now which are having business model, which are recession proof and the models which are into high growth trajectory, so if any recession is there or any slowdown, these businesses should be recession proof, so this is a good example and we are expecting a price target of around Rs 600 in a years time."

Disclosure: Analyst doesn't hold the above stock.