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Mar 06, 2009, 08.12 PM IST
KRChoksey has recommended a buy rating on KSB Pumps with a target price of Rs 242. In Q4CY08, the company’s sales have increased by 33% on a y -o-y basis to Rs 174.7 crore from Rs 131.8 crore.
KRChoksey has recommended a buy rating on KSB Pumps with a target price of Rs 242 in its March 6, 2009 research report.
"In Q4CY08, the company’s sales have increased by 33% on a y -o-y basis to Rs 174.7 crore from Rs 131.8 crore. The growth in sales was on account of rise in the revenues from pumps segment by 47% y-o-y.The growth of the pump industry would be driven by the heavy investments being made in the user industries, such as power and petrochemicals." "The growth of the pump industry would be driven by the heavy investments being made in the user industries, such as power and petrochemicals. However delay in the expansion plans of user industries and volatility in raw material prices going forward can affect the company’s earnings. We recommend a BUY with a target price of Rs 242, implying an upside potential of 17%. At the target price, the stock would be valued at 5.5x CY09E EPS of Rs 43.4," says KRChoksey's research report.
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