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Apr 06, 2010, 03.24 PM IST
Sharekhan is bullish on Gayatri Projects and has recommended buy rating on the stock with a target of Rs 549, in its April 05, 2010 research report.
Sharekhan is bullish on Gayatri Projects and has recommended buy rating on the stock with a target of Rs 549, in its April 05, 2010 research report.
“Currently Gayatri Projects is trading at 7.3x and 5.9x its FY2011E and FY2012E earnings respectively and the valuations are attractive given GPL’s growth plans. To discount for its AP focus, we have valued the core business at Rs 463 which is 7x (as against 8x for the other mid-cap infrastructure companies in our coverage) FY2012 earnings. The SOTP based price target also includes Rs 37.8 for its six BOT projects (based on the NPV method) and Rs 48.4 for its power project (0.5x of its Rs150 core investment in GEVL). Thus, we initiate coverage on the stock with a Buy recommendation and price target of Rs 549.” Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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