Brokers’ picks: Hexa Tech, Sesa Sterlite
With Baring Asia as promoters, Kim Eng expects co to become more aggressive towards acquisitions and largedeals.
Updated:
Kim Eng Puts ‘Buy’ on Hexa Tech
With Baring Asia as promoters, Kim Eng expects co to become more aggressive towards acquisitions and largedeals.
While it maintains FY14 (yr to Dec) forecast of improvement in revenue growth in H2, it now values Hexaware based on PER of 11x FY14 (vs. 10x FY13 earlier).
Furthermore, it expects strong RoE of 26% for FY13-14F.
Sesa Sterlite Upgraded to ‘Buy’
The uncertainty over GoI’s much delayed minority stake sale in HZLis finally nearing a conclusion.
Espirito Santo’s interactions with ministry officials indicate a final approval from the cabinet committee will pave the way for the deal to go through.
It has upgrades Sesa Sterlite to ‘Buy’.
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While it maintains FY14 (yr to Dec) forecast of improvement in revenue growth in H2, it now values Hexaware based on PER of 11x FY14 (vs. 10x FY13 earlier).
Furthermore, it expects strong RoE of 26% for FY13-14F.
Sesa Sterlite Upgraded to ‘Buy’
The uncertainty over GoI’s much delayed minority stake sale in HZLis finally nearing a conclusion.
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Espirito Santo’s interactions with ministry officials indicate a final approval from the cabinet committee will pave the way for the deal to go through.
It has upgrades Sesa Sterlite to ‘Buy’.
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