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Buy GMR Infrastructure, target of Rs 78: Karvy
Karvy Stock Broking has come out with a research report on GMR Infrastructure. The broking firm has initiated coverage with a buy rating on the stock and a price target of Rs 78.
Karvy Stock Broking has come out with a research report on GMR Infrastructure . The broking firm has initiated coverage with a buy rating on the stock and a price target of Rs 78.
The report says, "GMR Infrastructure is a large business conglomerate with presence across various verticals in the infrastructure space, such as airports, power, road-highways and urban development. The company has an excellent track record of execution across different segments, and is in a sweet spot with the pick-up in airport passenger traffic and improving visibility for monetization of real estate at premium valuations. It has a strong pipeline of new power projects which will be operational over the period and would unlock value for the parent company. We initiate coverage with a buy rating and a price target of Rs 78 based on SOTP (sum-of-the-parts) valuation."
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