Buy Glodyne Technoserve, target of Rs 575: Reliance Money

3096 Investors following Glodyne Techno. Share this News with them.

0

Like this story, share it with millions of investors on M3

Buy Glodyne Technoserve, target of Rs 575: Reliance Money

Reliance Money has recommended a buy rating on Glodyne Technoserve, with price target of Rs 575. Glodyne Technoserve continues to leap forward with impressive financial performance.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See previous views by Reliance Money See what other Experts & Brokerages are saying about Glodyne Techno See messages about Glodyne Techno Glodyne Techno BSE | NSE 31/05/12 Are Mutual Funds betting on Glodyne Techno?

Reliance Money has recommended a buy rating on Glodyne Technoserve , with price target of Rs 575, in its report dated June 8, 2009.

"Glodyne Technoserve continues to leap forward with impressive financial performance. We expect consolidated revenues to grow at a CAGR of 31% over FY09-11E and for the same period net profit expect to show a CAGR growth of 36%. We believe as 75% of Glodyne business is centered around India that too 79% from infrastructure management space (non-discretionary spend), which makes Glodyne largely immune from any major cut in the global IT spending and rupee appreciation. At CMP of Rs 458, stock trades at 5X FY10E and 4X FY11E earning, we recommend 'BUY' with a 12 months target price of Rs 575, at our target price stock will be valued at 5x FY11E," 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...