Buy Nucleus Software, tgt Rs 386: HEM Securities

HEM Securities has maintained buy rating on Nucleus Software with target price of Rs 386 in its May 12, 2008 research report. "The company has shown strong growth in its top line and bottom line which grew at CAGR of 39% and 56% respectively due to strong market penetration both domestically and internationally. The company is having health order book position and diversified product portfolio catering to the need of banking and non – banking financial institution across the globe. The stock at the current market price of Rs 268 is trading 14.28 times to its earnings and 5.56 times to its book value and is expected to provide handsome return in medium to long term. Therefore we are initiating ‘BUY’ signal on the stock with the target price of 386 which is approximately 44% up from the current market price of Rs 268" according to HEM research report.