Axis Direct is bullish on Navkar Corporation has recommended buy rating on the stock with a target price of Rs 225 in its research report dated November 29, 2016.
Axis Direct's research report on Navkar Corporation
Vapi’s Q2 volumes improved to 1,225 teus (325 teus in Q1); Rail siding expected to be complete by Mar,’17 (construction delayed due to heavy monsoon). To factor in this delay, we lower our Vapi’s volume estimates, resulting in 15% decline in our FY17/18E EPS. Maintain BUY with revised TP of Rs 225 (18x FY18E EPS; Rs 250 earlier) given benefits from (a) timely capacity expansion at Panvel and (b) volume ramp-up at Vapi, given attractive pricing (25% lower than peers’).
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