Kotak - Nagarjuna Constructions, Emkay - NIIT Technologies

Kotak recommends Nagarjuna Constructions, in their report, they say

At the current market price of Rs.175, the stock is trading at 18.5x and 14.5x on P/E multiples and 9.7x and 7.8x on EV/EBITDA multiples on FY08 and FY09 estimates. Adjusted with BOT and land development valuations, it is trading at 15.5x and 12x on P/E multiples on FY08 and FY09 estimates. We have valued the company on the sum-of-the-parts methodology, incorporating the valuation of core business, BOT projects and land development valuation. We recommend BUY with a price target of Rs.210.

Emkay recommends NIIT Technologies

The fiscal gone by, can be termed as a year of strong accomplishments for NIIT
Technologies, with four quarters of double digits sequential growth in net profit,
successful integration of Room Solutions, which further strengthened company’s
BFSI Vertical, especially insurance coupled with JV with global giant Adecco, which
gave NIIT Technologies access to top global Fortune 100 companies.
Going forward, we expect NIIT Technologies to continue its strong business
momentum, with strong revenues visibility from key business verticals and
geographies. We have marginally revised our estimates for FY08E and introduce our new estimates for FY09E. We expect NIIT Technologies revenue and net profit to grow at a CAGR of 32% and 26% respectively over FY07A-09E.