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Angel Broking neutral on Inox
Angel Broking has maintained neutral rating on Inox. At the CMP of Rs184, Inox is trading at 13.4x FY2010E EPS, which is relatively expensive compared to its peers and leaves little upside for investors.
Angel Broking has maintained neutral rating on Inox in its June 11, 2008 report. Inox commands a premium over its peers owing to its superior positioning and better execution capabilities. However, we believe this premium would narrow down due to subdued Earnings growth over FY2008-10E. At the CMP of Rs184, Inox is trading at 13.4x FY2010E EPS, which is relatively expensive compared to its peers and leaves little upside for investors. We maintain our Neutral view on the stock" according to Angel Broking.
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