Buy Adani Enterprises: Edelweiss

RELATED NEWS Buy Tourism Fin Corp, tgt Rs 47: Sharekhan Buy Asian Electronics; target of Rs 638: P Lilladher Buy GAIL India; target of Rs 622: Motilal Oswal Buy Bharti Airtel; target of Rs 1100: Sharekhan Accumulate ABG Shipyard; target of Rs 1085: Angel Adani Enterpris BSE | NSE 31/05/12 Are Mutual Funds betting on Adani Enterpris?

Edelweiss research has maintained buy rating on Adani Enterprises , in their December 10, 2007 report. "Adani Enterprises (AEL) is leveraging its track record and experience as a 5-star trading house to embark on an ambitious asset-backed diversification and expansion plan that will exploit emerging opportunities in the infrastructure space in India. It is investing in power generation and coal mining where AEL has significant trading experience and market share. Our sum-of-the-parts (SOTP) value of AEL comes to Rs 1,048/share (including Rs 210/ share for existing trading business). The SOTP factors in large discounts to cover for execution risks on new businesses; however, given AEL's history and promoter track record of execution at the Mundra port, there are upside risks to this value. We initiate coverage with a 'buy' recommendation," says Edelweiss report. 

 

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision