Buy KSK Energy Vent; tgt of Rs 214: Networth Stock Broking

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Buy KSK Energy Vent; tgt of Rs 214: Networth Stock Broking

Networth Stock Broking is bullish on KSK Energy Ventures and has recommended buy rating on the stock with a target of Rs 214 in its September 6, 2010 research report.

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Networth Stock Broking is bullish on KSK Energy Ventures and has recommended buy rating on the stock with a target of Rs 214 in its September 6, 2010 research report.

�gKSK Energy Ventures Ltd. (KSKEVL) is a power project development company that caters primarily to the requirements of captive consumers. The promoter company is KSK Energy Ltd. (incorporated and registered in Mauritius) which in turn is a wholly owned subsidiary of KSK Power Venture plc (an Isle of Man incorporated entity listed on the London Stock Exchange). KSK is into developing and operating power plants for industrial and stateowned consumers. We have valued KSK on SOTP basis for its project development and power generation segment."

"We have estimated fr it to determi ee cash flow to equity for both the segments for the next 10 years and then consolidated ne free cash flow to the firm. Assuming a cost of equity of 15.3% and terminal growth rate of 5%, we have derived our target price of Rs 214 per share. At CMP of Rs 162, the company is trading at a P/E of 7.1x FY12E EPS of Rs 23 and at a P/BV of 1.4x FY12E BV. At our target price, KSK will trade at a P/E of 9.4x FY12E EPS while the P/BV will stand at 1.85x FY12E BV," says Networth Stock Broking research report.

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To read the full report click on the attachment