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Buy Polaris Software; target of Rs 250: Hem Sec
Hem Securities is bullish on Polaris Software Lab and has recommended buy rating on the stock with a target of Rs 250, in its December 22, 2009 research report.
Hem Securities is bullish on Polaris Software Lab and has recommended buy rating on the stock with a target of Rs 250, in its December 22, 2009 research report.
"A review of the market opportunity areas and Polaris offerings and strengths indicates an overall positive outlook for the coming year, with a good mix from current geographic markets as well as new developing markets and business lines. Further, good cash and cash equivalents, efficient acquisition via internal accruals, minimal debt, expanding global presence via strong tie-ups, diversified product portfolio and strong client base including big clients like Axis bank, HDFC bank, ICICI Prudential, AIG and many big global players would fuel revenue growth going forward. In wake of such growth, Polaris Software Lab Ltd. seems to be extremely attractive investment opportunity."
"Presently, the stock is trading at Rs 180 which is at 13.55 times to its earnings and 2.29 times to its book value. Since the stock offers good opportunity, we initiate a 'BUY' signal on the stock with a target price of Rs 250 in medium to long term investment horizon expecting an appreciation of about 40% from the current level of Rs 180," says Hem Securities research report.
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