Subscribe to ITNL IPO for long-term: Aditya Birla Money
Published on Fri, Mar 12, 2010 at 11:00 | Source : Moneycontrol.com
Updated at Tue, Apr 06, 2010 at 17:49
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Subscribe to ITNL IPO for long-term: Aditya Birla Money
Aditya Birla Money has come out with a research note on IL&FS Transportation Networks' (ITNL) IPO. The broking firm has recommended subscribing to the issue with long-term perspective.
Aditya Birla Money has come out with a research note on IL&FS Transportation Networks' (ITNL) IPO. The broking firm has recommended subscribing to the issue with long-term perspective.
ITNL will raise upto Rs 700 crore through its IPO, which will close on March 15. The price band is at Rs 242-258 per share.
The report says, "On the upper band of the issue price Rs.258, the company has priced its issue on a PE of 21.39x on its annualized earnings and P/BV of 3.23x. By considering the factors such as - Strong parentage, presence in high growth industry, strong track record in business, we recommend subscribe on the issue with long-term perspective."
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