Cummins India may touch Rs 1175: Ajay Bodke

Ajay Bodke of Prabhudas Lilladher told CNBC-TV18, "In the capital goods space, there are some very good opportunities available. Cummins India, the largest engine player in the country, in our opinion offers a very good entry point with a medium-term perspective. We have a target of Rs 1,175 on a fundamental basis for Cummins India."He further added, "We are expecting a strong 15 percent growth in earnings for the current financial year followed by a stronger 26 percent growth in earnings in next financial year in Cummins India and a very strong 13 percent topline growth this year followed by 18 percent in next financial year.""In the cement space, as the investment cycle picks up, JK Lakshmi Cement is our preferred pick there. We have a target price of around Rs 450. There again we are expecting a strong growth in revenues of around 18 percent in this financial year followed by around 23 percent in next financial year. On the EV per tonne basis, the company trades at a significant discount to its peers.""It has built up large capacities which are coming on stream and it is also present in the areas where the pricing power is better. So, on the cement space, JK Lakshmi is our preferred pick.""In the pharmaceutical space, we have been very bullish on the midcap names. If you recollect, we have discussed on Glenmark Pharma. There have been some concerns on the Venezuela side, I think the change in government and the treatment of receivables as the currency will depreciate. However, that market has already discounted.""The slew of ANDA approvals that the company has been receiving since the beginning of financial year, in our opinion should continue for the next financial year also. We have a target price of Rs 1,186 over the medium-term. 89 percent growth in earnings expected for next financial year and 130 percent in the current financial year, strong topline growth of 26 percent this year and around 38 percent in next financial year.""The other stock on the midcap space in pharmaceutical that we like is Jubilant Life Sciences. From Rs 220 levels we have been recommending it and we expect a target price of around Rs 578 in the medium-term," he said.