![]() Buy Glodyne Technoserve, target of Rs 455: Reliance SecPublished on Wed, Nov 04, 2009 at 14:52 | Source : Moneycontrol.com Updated at Wed, Nov 04, 2009 at 14:57
Reliance Securities has come out with a report on Glodyne Technoserve 's Q2FY10 earnings. The research firm continued to remain positive on long term sustainability of Glodyne's business model and recommended buy with a 12-month price target of Rs 455. "Glodyne Technoserve continues to show consistent strong financials and operational performance, and the quarter gone by was no exception with strong all-round growth seen in the key business area. We have incorporated the numbers from Broadllyne Technologies in our estimates for FY10E and FY11E, we estimate an EPS CAGR of 40% over FY09-11E on diluted equity capital of Rs 234 mn (including Compulink System equity swap). At CMP of Rs 308, stock trades at 6X FY10E earning and 5x FY11E. We continue to remain positive on long term sustainability of Glodyne's business model, we recommend buy with a 12-month price target of Rs 455 and at our target price stock would be valued at 9.5x FY10 and 7 x FY11E earning", says Reliance Securities. 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......... Attachments : Glodyne-Reliance.pdf
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