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Buy Bartronics India; target of Rs 184: Fairwealth
Fairwealth Research is bullish on Bartronics India and has recommended buy rating on the stock with a target of Rs 184, in its May 31, 2010 research report.
Fairwealth Research is bullish on Bartronics India and has recommended buy rating on the stock with a target of Rs 184, in its May 31, 2010 research report.
"Bartronics India started its first kiosk for Aapke Dwar project during Q4FY10. Revenues from this project are expected to come by Oct 2010-11. The management expects revenues amounting to Rs 300-350cr during the current fiscal year. The Company has diverted its focus from barcode technology to more advanced RFID, which is expected to find its application in the fast growing manufacturing industry."
"The company has an order book of about Rs 750 crore. This does not include revenues from the Aapke Dwar project. It is also handling projects for Indian Railways and is bullish on getting more government projects in both Indian and Singaporean markets. Bartronics Q4 net profit increased by a massive 201% to Rs 28.84cr, on account of 60% jump in company's top-line. At the current price of 140, the stock is trading at just 5.45 times of our estimated FY11 earnings. We thus recommend a 'BUY' with a Price target of 184," says Fairwealth Research report.
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