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Buy Binani Cement, target of Rs 84: Firstcall Research
Firstcall Research has come out with a research report on Binani Cement. The firm has recommended buy in this particular scrip with a target price of Rs 84, in its report dated February 24, 2010.
Firstcall Research has come out with a research report on Binani Cement . The firm has recommended buy in this particular scrip with a target price of Rs 84, in its report dated February 24, 2010.
The report says, "At the current market price of Rs 69.85, the stock trades at a P/E of 4.27x and 3.76x for FY10E and FY11E respectively. On the basis of EV/EBDITA, the stock trades at 2.68x and 2.56x for FY10E and FY11E respectively. Price to Book Value of the stock is expected to be at 1.75 and 1.20 respectively for FY10E and FY11E."
"The Net sales of the company are expected to grow at a CAGR of 28% over 2008 to 2011E. BCL has CAPEX plans of Rs 1700 crore to be spent over the next 2-3 years which includes Greenfield expansion in Gujarat, Grinding unit in Mauritius, Expansion in China & mine development in Nimbri Chandawatan, Rajasthan. We recommend buy in this particular scrip with a target price of Rs.84.00. for medium to long term gains," according to Firstcall Research.
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