Buy Gammon India, target of Rs 281: IIFL

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Buy Gammon India, target of Rs 281: IIFL

IIFL has recommended a buy rating on Gammon India with a target of Rs 281. Gammon announced acquisition of 50% stake in Sofinter Spa for € 50 million. The acquisition would be funded through debt raised by a step-down Netherlands-based subsidiary. Management held a call to share details of the acquisition.

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IIFL has recommended a buy rating on Gammon India with a target of Rs 281 in its September 12, 2008 research report. "Gammon announced acquisition of 50% stake in Sofinter Spa for € 50 million. The acquisition would be funded through debt raised by a step-down Netherlands-based subsidiary. Management held a call to share details of the acquisition, Buy, target of Rs 281," says IIFL's research report.

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