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Mar 14, 2008, 10.42 AM IST
Sharekhan has maintained buy rating on Esab India with target price of Rs 575. The operating profit for the company grew by 33.2% to Rs 19.2 crore. The operating performance of the company continues to be healthy.
"We believe, the demand for welding products would continue to be buoyant due to the planned investments in core infrastructure sectors like roads, ports, airports, construction and other industrial sectors in India. ESAB India, the market leader in welding products, is all set to tap this opportunity. Currently, we maintain our estimates for CY2008 and would bring our CY2009 estimates post the AGM of the company. At the current market price, the stock trades at 10.3x its CY2008 EPS and 5.2x EV/EBIDTA. We maintain our Buy recommendation with a price target of Rs 575," according to Sharekhan Research report.
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May 23 2013, 16:33
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