Angel Broking has maintained buy rating on Aditya Birla Nuvo with a price target of Rs 1,166 in its research report dated 03rd August, 2010.
"ABNL has started delivering improved performance in its manufacturing businesses. The BPO and garments businesses have been profitable since the last two quarters. The insurance business and the AMC are also well geared to benefit from the significant market opportunity lying ahead. Thus, due to the diversity in the nature of ABNL's businesses, we have valued it on SOTP basis and assigned 20% conglomerate discount. We recommend a Buy on the stock, with a Target Price of Rs1,166, implying an upside of 44% from current levels." says Angel Broking research 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 decisions.
