Maruti Suzuki : Stock Recommendations
Mahindra & Mahindra : Stock Recommendations
HDIL: Housing Development & Infrastructure Limited (HDIL) with a BUY rating and a target price of Rs436.
MARUTHI SUZUKI:(BUY) reported robust volume growth in November 2009 (of 66.6% y-o-y and 2.8% m-o-m) to 87,807 units. The low base of November 2008 has inflated the y-o-y growth figure. However, we are impressed by the m-o-m 6.7% domestic sales growth, which is the highest mom growth in November for MSI since FY04. Current channel inventory for MSI is optimal at approximately 3 weeks
MAHINDRA $ MAHINDRA:(BUY) We are optimistic about M&M’s volume growth in the rest of FY10 and expect residual growth of 20%. At 11.6x FY11e, M&M is one of the cheapest stocks in the auto sector. We reiterate a BUY on the attractive valuations and good growth prospects.
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