Reliance Securities has come out with a report on Gujarat NRE Coke's Q2FY10 earnings. The research firm reiterated buy rating with a price target of Rs 83.

"At CMP the Gujarat NRE Coke quotes at an EV/EBIDTA of 3.5x and P/E of 4.8x for FY11E earnings. We expect the revenues to grow at CAGR of 41% over FY09 & FY11E while the bottomline to expand by whopping 135% over the same period. We reiterate our earlier buy with a price target of Rs 83 at which the scrip will quote at an EV/EBIDTA of 4x and P/E of 6.5x for FY11E earnings", 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.........