Buy Financial Tech, target Rs 1822: Motilal Oswal

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Buy Financial Tech, target Rs 1822: Motilal Oswal

Motilal Oswal has recommended a buy rating on Financial Technologies, with price target of Rs 1822, in its report dated March 2, 2010.

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Motilal Oswal has recommended a buy rating on Financial Technologies , with price target of Rs 1822, in its report dated March 2, 2010. The stock closed at Rs 1543.80 on March 2, 2010.

"We value Financial Technologies based on the SOTP valuation. We attribute 75% of our target price to technology and exchanges businesses. The other investments are either in the incubation stage (four new exchanges) or currently do not contribute meaningfully to revenue or earnings. We attribute 22% of our valuation to these ventures, and NBHC (warehousing and collateral management) contributing 3% of our target price. It is the single largest contributor among ecosystem ventures. We initiate coverage with a buy and a target price of Rs 1,822, an upside of 23%," says Motilal Oswal report.

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To read the full report click on the attachment