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IL&FS Transportation: a value buy, says Hem Sec
Hem Securities has come out with a research note on IL&FS Transportation Networks' (ITNL) IPO. The broking firm has recommended subscribing to the issue.
Hem Securities has come out with a research note on IL&FS Transportation Networks' (ITNL) IPO. The broking firm has recommended subscribing to the issue.
The IPO of ITNL will be opened for subscription till March 15. The company will raise upto Rs 700 crore through its IPO.
The report says, "The company is bringing the issue at price band of Rs 242-258 per share which will turn into P/E multiple of 19.86-21.18 at post issue annualized EPS of Rs 12.18. The company with its strong promoter base intends to expand its business in other surface transportation infrastructure, rail, urban mass-rapid transport and airport sub-sectors .The company has posted strong financials in H1FY10 .However high debt is major cause of concern but company with one of the object of issue to reduce debt looks a value buying at present level. Hence we recommend investor to subscribe the issue."
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