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24 October, 2014 17:29 IST
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Source: rss | 24-Oct-14
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Following stocks have been recommended as fundamental picks by SMC Global:

1. South Indian Bank

Current market Price (CMP) : Rs 23.20
Target Price (TP):  Rs 31
Upside: 33%

The bank is aggressively expanding its branch network across the country and has plans to add more branches and ATM going forward. In a tight interest rate scenario the bank has maintained NIM around 3% during the first half of the current fiscal and has plans to maintain NIM of 3% going forward. Meanwhile the overall CRAR of the back is as high as 14.43%.

We expect stock to see a price target of 31 in one year time frame based on FY14 (E) book value of 26.98 on a target P/BVx of 1.15.

2. Neyveli Lignite Corporation

Current market Price (CMP) : Rs 82.65
Target Price (TP):  Rs 92
Upside: 12%

Company estimate is 10 per cent growth every year in turnover and around 10-15% in profit. NLC forges ahead in all fronts and with its expansion activities the company is poised for substantial growth in the years to come. The company is planning to add 15,000 Mw of power by 2020-22 at an investment of around ~90,000 crore.

We thus expect the stock to trade for a price target of '92 in one year time frame, based on estimated FY14E EPS of 9.04onatwoyears historical average P/Exof10.2.

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