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Buy Century Enka, target of Rs 320: Sunidhi Securities
Sunidhi Securities & Finance has come out with a research report on Century Enka (CEL). The research firm has recommended buy rating on the stock with a target of Rs 320, in its report dated December 18, 2009.
Sunidhi Securities & Finance has come out with a research report on Century Enka (CEL). The research firm has recommended buy rating on the stock with a target of Rs 320, in its report dated December 18, 2009.
"CEL is likely to post an EPS of Rs 54.8 in FY10, which would go up to Rs 61.5 in FY11. At CMP of Rs 260, the share is trading at a P/E of 4.7x on FY10E and 4.2x on FY11E. Century Enka in its weekly chart can be seen in a clear uptrend since early-2009. The index is expected to reach its primary peak at Rs 275. The ability of the stock to sustain above Rs 275 should take it to Rs 320. We recommend buy with a target of Rs 320", says Sunidhi Securities & Finance.
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