Buy Anant Raj Industries, target of Rs 189: Angel Broking

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Angel Broking has come out with a research report on Anant Raj Industries . The research firm has initiated coverage on the stock with a buy recommendation and target price of Rs 189.

"Anant Raj Industries (ARIL) is a prominent and well-diversified Real Estate player in the NCR region. We expect ARIL's two super premium Residential projects of Hauz Khas and Bhagwandas, located in the heart of Delhi, to drive its near-term operational visibility and help register Rs 600 crore profit over the next three years. Further, ARIL has 70% and 30% pre-lease commitments at its Manesar IT Park and Kirti Nagar mall respectively, coupled with five hotels getting operational by FY2011E which will improve rental visibility. At Rs 139, the stock is trading at 37% discount to our 1-year forward NAV, 11.4x FY2011E EPS and 1.1x FY2011E P/BV. We initiate coverage on the stock with a buy recommendation and target price of Rs 189, which is at 15% discount to our 1-year forward NAV", says Angel Broking.

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To read the full report click on the attachment