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Buy Hi-Tech Gears; target of Rs 150: Sunidhi Sec
Sunidhi Securities is bullish on Hi-Tech Gears and has recommended buy rating on the stock with a target of Rs 150, in its March 19, 2010 research report.
Sunidhi Securities is bullish on Hi-Tech Gears and has recommended buy rating on the stock with a target of Rs 150, in its March 19, 2010 research report.
"Hi-Tech Gears is likely to post an EPS of Rs 17.5 in FY10 and Rs 22.0 in FY11. At the CMP of Rs 117, the share is trading at a P/E of 6.9x on FY10E and 5.3x on FY11E. We recommend BUY with a target of Rs 150 in the medium term. The stock is forming a rounding bottom price pattern. It is expected to move upwards to its previous intermediate-term top. It is attempting to take support of its 100-day moving average (red-curving line). The stock is expected to attain a price target of Rs 150 in the short-term with a stop-loss of Rs 108."
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