Buy KPIT Cummins; target of Rs 140: Sunidhi Sec

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Buy KPIT Cummins; target of Rs 140: Sunidhi Sec

Sunidhi Securities is bullish on KPIT Cummins Infosystems and has recommended buy with a target of Rs 140, in its March 03, 2010 research report.

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Sunidhi Securities is bullish on KPIT Cummins Infosystems and has recommended buy with a target of Rs 140, in its March 03, 2010 research report.

"KPIT Cummins Infosystems is likely to post an EPS of Rs 11.8 in FY10 and Rs 13.5 in FY11. At the CMP of Rs 112, the share is trading at a P/E of 9.8x on FY10E and 8.3x on FY11E. We recommend BUY with a target of Rs 140 in the medium term. The stock is moving along the upsloping support trendline. The strength of the stock's uptrend is evident from the fact that it has not closed decisively below the trendline. The target for the stock is Rs 140 in the short-term."

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