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    HomeNewsBusinessMarketsBrokerages bullish on JP Asso, IVRCL Infra, Lanco Infra

    Brokerages bullish on JP Asso, IVRCL Infra, Lanco Infra

    Bank of America Merrill Lynch recommends buying JP Associates as assets are trading at 55% discount to NAV estimate, which could be un-locked by improving visibility of cash flows or divestment.

    August 16, 2011 / 11:25 IST
       
       
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      Bank of America Merrill Lynch recommends buying JP Associates as  assets are trading at 55% discount to NAV estimate, which could be un-locked by improving visibility of cash flows or divestment. However, they have cut their target to Rs 138 from Rs 150. Weak cement markets and leveraged balance sheet are the key risks.


      Know Your Investment: Vijay Bhambwani answers your queries


      Bank of America Merrill Lynch recommends buying IVRCL Infra as the stock seems inexpensive at 60% discount to NAV. The stock offers a good investment opportunity on potential turn in construction capex cycle from FY13 on peak in interest rate and inflation. They have cut their target to Rs 120 from Rs 145 on de-rating of multiple on slowed growth.


      Nomura maintains a buy on Lanco Infra with a target of Rs 51. Sharply higher profit elimination led to the earnings miss, project delays and loss at the Udupi facility do not bode well for cash flows. Nomura expects a sharp downside to ITS earnings forecast and TP for Lanco and await input from the earnings call tomorrow.

      Also read: India in trouble, recession may recur in US, says Ruchir Sharma

      first published: Aug 16, 2011 08:29 am

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