[stock_win_india] Buy Call - Sintex, IPO Analysis - Pradip Overseas; Overpriced Indian IT shares?

 

There is a nice article on overpriced Indian IT shares & risks in IT sector, worth reading it here.

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Are Indian IT Shares Overpriced?

Valuations of the stocks far exceed the companies' growth rates, and include a premium to the Indian market, which itself carries a historically high price/earnings ratio of 25 - even though India is expected to tighten credit. Wipro trades at 34 times earnings, versus a long-term growth rate of 16%. Tata Consultancy Services (TCS) trades at 22 times. Infosys' multiple of 26 is nearly twice its long-term growth rate of 14.

IPO Analysis - Avoid Pradip Overseas Ltd

Pradip Overseas Ltd IPO is open from March 11 to March 15. Pradip Overseas has fixed the price band for its initial public offering of 10.6 million shares between 100 to 110 rupees a share. Investors may refrain from subscribing to the Initial Public Offer of Pradip Overseas Ltd (POL), manufacturer of home textiles. Absence of long-term customer contracts, reliance on agencies for export orders and narrow product offering are reasons that dim the prospects of this offer

Buy Calls Recommendation - Sintex

Sintex
Price (Rs): 260
Target price (Rs): 310

Thanks,
Abhijeet
http://www.stockmarketindia.net

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