India Infoline puts BUY on Satyam Computer

India Infoline puts BUY on Satyam Computer
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First Published: Thu, Aug 14 2008. 12 03 PM IST
Updated: Thu, Aug 14 2008. 12 03 PM IST
On the daily charts, the stock is on a recovery mode, trading well above the short-term moving averages. Last month, Satyam reported a strong 8.5% q-o-q growth in its topline in rupee terms aided by 6.7% fall in the local currency. OPM improved by 133bps qoq against our expectations of flat margins.
Over the past three quarters, OPM has improved by 423bps. We believe that at current market price, all the company-specific negatives and near term macro uncertainties are more than factored in. We recommend a BUY for a short-term target price of Rs430.
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First Published: Thu, Aug 14 2008. 12 03 PM IST
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