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Aug 27, 2011, 06.48 PM IST
Networth Stock Broking is bullish on Atlanta and has recommended buy rating on the stock with a target of Rs 110 in its August 26, 2011 research report.
“Atlanta Limited is a diversified asset based Company with focus in infrastructure projects such as highways on EPC/BOT basis, mining and real estate projects. Currently the Company has two toll highway projects in its portfolio namely Mumbra Bypass and Nagpur-Kondhali section. Recently it has been awarded another BOT project of Rs 917 Cr from Government of Bihar. Further, the Company is planning unique Rs 9500 Cr entertainment city in Surat which is under the initial stage. The Company is also confident in adding more toll based highway projects in its fold by actively participating in PPP projects on BOT basis. Hence we initiate coverage on Atlanta Ltd with FY13 end price target of Rs 110 which implies 64% upside from the current levels.”
“We are confident about Atlanta’s execution capabilities with strong order book in hand. We believe that Company is going to be one of the major beneficiaries of the upcoming investment in the roads and highways. We reckon that the management has rightly identified real estate as a next opportunity and has already started working towards that. As per our valuations, the core construction business of the company contributes Rs 54 per share and real estate business contributes Rs 32 per share. The BOT projects as per DCF method, contributes Rs 24 per share taking 1 year forward stock price target to Rs 110 per share. Maintain Buy,” says Networth Stock Broking research report.
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