Emkay recommends 6 stocks to buy post Q4 results

Emkay Global Financial Services has come out with its report on stocks like GIPCL, IRB Infra, JK Tyres, IPCA Labs and Madras Cement.

May 28, 2011 / 12:42 IST

Emkay Global Financial Services has come out with its report on stocks like GIPCL, IRB Infra, JK Tyre, IPCA Labs and Madras Cements.

GIPCL: GIPCL is likely to earn a sustainable core ROE of 17% including Surat-II. At CMP of Rs86/share, the stock is trading at 8xFY13E earnings and 0.8x FY13E Book Value - which we believe is reasonable considering the reported ROE of 11% in FY13E (due to cash and CWIP). Given (1) stabilization of Surat II and (2) underperformance of the stock, we upgrade the stock to

first published: May 28, 2011 12:23 pm

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