INTRADAY PICKS - 30/03/2010

Intraday Pick for 30/02/2010
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Ruchi Soya - CMP: 99.25, Target: 102.00, SL: 97.50.
Mudra Lifestyle - CMP: 37.35, Target: 38.50, SL: 39.50.

SATYAM : Back on its feet (BNP PARIBAS)

We acknowledge the risks that Satyam presents given the lack of audited financials and the near-term overhang of L&T likely selling its stake. However, we believe Satyam still makes for a compelling turnaround story and that the audited results could reflect a better picture than investors fear. We believe an eventual merger with Tech Mahindra would be synergistic and could re-rate both the stocks ahead of the event. We also estimate Satyam has about USD700m or 28% of its market cap in cash that it can use strategically. Finally, large cap IT stocks have rallied 14-19% from their YTD lows, while Satyam is up only 3%, hence presents a case for a catch-up. Retain BUY.

To see full report, click here.

DishTV : 36% Upside Potential

At CMP of Rs 36.6, the stock trades at 5.1x TTM EV/sales of Rs 987 crore.
We believe the industry is looking attractive mainly on back of digitalization
growth with HITS policy approved by cabinet. To capture the growth coming
Dish TV ahead we believe Dish TV is better placed than its peer group. We
recommend ‘BUY’ on the stock with a price target of Rs 50
representing upside potential of 36%.

To view complete report click here.