Buy Core Projects; target of Rs 325: Anand Rathi

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Buy Core Projects; target of Rs 325: Anand Rathi

Anand Rathi Securities is bullish on Core Projects & Technologies and has recommended buy rating on the stock with a target of Rs 325 in its June 25, 2010 research report.

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ALSO READ See previous views by Anand Rathi Securities See what other Experts & Brokerages are saying about Core Projects & See messages about Core Projects & CORE Education BSE | NSE 01/06/12 Are Mutual Funds betting on CORE Education?

Anand Rathi Securities is bullish on Core Projects & Technologies and has recommended buy rating on the stock with a target of Rs 325 in its June 25, 2010 research report.

"Core Projects & Technologies (CPTL) Rs 6.95 billion order book is 61% of FY11e sales. This includes the Rs 1.19 billion order for the 947-school ICT project in Maharashtra and the fresh USD 24 million order from LAUSD. Orders worth Rs 5 billion would be executed in FY11 (44% of FY11 sales). At our target price of Rs 325, the stock would trade at 16x FY11e earnings. We recommend buy rating on the stock. At this valuation, it would trade at a 20% discount to Educomp and the industry average," says Anand Rathi Securities research report.

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To read the full report click on the attachment