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Tuesday, April 21, 2015

Deutsche Bank has raised its investment recommendation on software firm Rolta India Ltd bonds to BUY from hold. The stock started to fall from around Rs.177, after a research report alleged irregularities in its financials; even as the company termed it as "malicious" attempt to pull down its stock price.

Deutsche Bank raised its investment recommendation on the software firm Rolta India Ltd bonds to buy from hold a day after the company denied allegations made by short-seller Glaucus Research about fabricated capital expenditures. Deutsche said it agreed with the company's response that Glaucus had made factual errors in its report and the report had very little new information.

The risk taking investors can therefore buy the scrip of the company at Rs.134-135, for a short term target of Rs.142.
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