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Buy Bartronics India, target of Rs 235: Angel Broking
Angel Broking is bullish on Bartronics India and has recommended buy rating on the stock with a target of Rs 235. At the CMP, the stock trades at 3.2x FY2011E EPS.
Angel Broking has recommended a buy rating on Bartronics India with a target of Rs 235 in its June 8, 2009 report.
"Bartronics India (BIL) enjoys a pre-eminent position in the Indian AIDC segment and has also grown this business globally in countries like Malaysia and the US. The company is also the only Smart Cards manufacturer in India and this segment is expected to surge on demand from the Telecom, Banking and Government sectors."
"The company through bagging the Rs 5,000 crore 'Aapke Dwar' order has also opened up a new avenue for growth in e-governance. We expect BIL to record CAGRs of 39.6% and 34.7% in Top-line and Bottom-line, respectively over FY2009-11E. At the CMP, the stock trades at 3.2x FY2011E EPS. We recommend a 'Buy' on the stock with a target price of Rs 235," says Angel Broking's research report.
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To read the full report click on the attachment.........
