- 08:48 AM 10-yr yield seen between 7.20-7.40%: ING Vysya Ban...
- 08:46 AM Rupee may appreciate today: N Subramaniam
- 08:44 AM Fund Action witnessed in Austral Coke, Polaris Sof...
- 08:36 AM Ganeshaspeaks: Market prediction for Nov 11
- 08:34 AM F&O cues: Total Futures Open Int down by Rs 1281 c...
- 08:32 AM Stocks in news: KSK Energy, Sun Pharma, Pyramid Sa...
- 08:28 AM Market cues: FIIs net buy $139.4 mn
- 08:26 AM Support for Nifty at 4780-4730: Gaba
- 08:23 AM Nifty likely to witness range of 4940-4830: Bhambw...
- 08:20 AM Asia trading mixed; Hang Seng up, Shanghai Composi...



Religare Research has recommended a buy rating on Mercator Lines with a target price of Rs 160 in its June 16, 2008 research report. "On an expansion spree – fleet size doubled over last two years to 29 vessels with firm plans to ramp up to 33 vessels by December 2010. Also, an oil drilling jack up rig, scheduled for delivery in Q1FY09, has already been contracted for 3 years.Augmented fleet amid favourable day rate conditions to drive revenue and margins. Revenues expected to log 22.3% CAGR over FY08-FY10, with earnings CAGR of 28.6% and ROE of 30%."
"Attractively priced at P/E of 4.9x and P/BV of 1.1x on FY10E. Our valuation of Rs 160 is based on 1.2x current NAV. At our target price, the stock would trade at a P/E of 6.9x and P/BV of 1.6x, which is reasonable given the expanded fleet and strong earnings growth," says Religare's research 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.
For further details click on attachment.......
Attachments : Market Outlook - Value Picks16Jun08.pdf |
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Today's Special Column
with Ashok Gulati
International Food Policy Research Institute , Director in Asia


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