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Dec 27, 2012, 02.50 PM IST
Credit Analysis and Research (CARE), the second largest rating agency in India have listed its equity shares on both the exchanges on December 26, 2012. The stock rallied 23 percent over its issue price of Rs 750, to close at Rs 922.55 on the National Stock Exchange on listing day.
Credit Analysis and Research (CARE), the second largest rating agency in India have listed its equity shares on both the exchanges on December 26, 2012. The stock rallied 23 percent over its issue price of Rs 750, to close at Rs 922.55 on the National Stock Exchange (NSE) on listing day.
Also read - Expect Rs 150-155 on PC Jeweller in 6-8 months: Tulsian SP Tulsian of sptulsian.com says that, "If we see the FY14 earning, I am expecting that company should be able to post a PAT of close to about Rs 120 crore which should translate into Earnings per share (EPS) of Rs 42. For FY13 I am seeing the EPS likely to be anywhere between Rs 37.5-38. So, if you take FY14 earnings the share is now ruling at a price-to-earnings (PE) multiple of 22-23." He further added, "If you see the other comparable peers, they are ruling at a PE multiple of 30 or more. In fact I am keeping my positive stance on the stock and expecting that may be in the next six to eight months - once you have your FY13 getting over and once Q1 results start coming out may be in next six months or so by then the shareholding pattern also goes into the quality hands. You see the traders exiting from the stock and all sort of things and I won’t be surprised to see a price of Rs 1100 may be in next eight to twelve months or so."
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