Buy Kalpataru Power, target of Rs 1360: IndiaInfoline

IndiaInfoline has recommended a buy rating on Kalpataru Power Transmission with a price target of Rs 1360 in its May 12, 2008 research report. "KPTL is part of the diversified Kalpataru group, which has a presence in real estate, civil contracting, international trading and consumer goods and services. India’s power transmission capacity is estimated to increase from 14,000MW as at end of FY07 to 37,000MW by end of FY12. With more than 95,000 ckt-km of transmission yet to be awarded, we expect KPTL (one of the top three domestic T&D companies) to witness significant order inflows in the coming years. KTPL revenue and net profit has seen a robust growth of 64% and 122% respectively over the last three years and we expect the company to witness revenue CAGR of 20.8% during FY07-09. Current valuations appear attractive and we recommend a buy for delivery price target of Rs 1360," says IndiaInfoline's research report."

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