Reliance Money has maintained its buy rating on Glodyne Technoserve, with price target of Rs 575, in its report dated July 17, 2009.

"We view this acquisition as a positive development for Glodyne Technoserve, however we are still awaiting for the finer details of the deals and integration process. We maintain our earlier estimates for FY10E and FY11E for the company and will rework on our estimates after our meeting with the Glodyne’s management. At the current market price Rs 466, Glodyne is trading 5x FY10E and 4x FY11E. We maintain 'BUY', with a target price Rs 575," says Reliance Money's report.

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.

To read the full report click on the attachment.....