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Anagram has recommended an accumulate rating on Easun Reyrolle. Company has announced capex of Rs. 10-20 crore for next 2 years to mainly focus on IT in power sector.
"APDRP Phase 2, focusing on improved efficiencies and loss reduction through use of IT in power sector, is now approved-Providing significant opportunities to ERL. At CMP, stock trades at 7.2X FY09E and 4.4X FY10E earnings with an EPS of Rs. 14.42 and Rs. 23.40 respectively. The stock looks attractive from a medium–to-long-term perspective and hence we recommend Accumulate the stock," says Anagram's research report.
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May 21 2013, 13:56
- in Results Boardroom
May 21 2013, 11:05
- in MARKET OUTLOOK