Buy GMDC; target of Rs 140: HDFC Securities
HDFC Securities is bullish on GMDC has recommended buy rating on the stock with a target price of Rs 140 in its research report dated February 10, 2017.
HDFC Securities' research report on GMDC
This will help GMDC maintain its volumes even when international coal prices plunge, as in FY16. We upgrade our TP to Rs 140, mainly on increased volume assumptions (5.0x FY19 EV/EBITDA).
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