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May 29, 2012, 06.23 PM IST
A C Choksi is bullish on MOIL and has recommended buy rating on the stock with a target of Rs 336 in its May 29, 2012 research report.
A C Choksi is bullish on MOIL and has recommended buy rating on the stock with a target of Rs 336 in its May 29, 2012 research report.
“MOIL FY12 Results were below our expectations; however improvement is seen in Mn ore prices. The company has increased the prices of Mn ore by 5%-12.5% for the first time after 5 quarters of decline.” “At CMP of 272 and on a trailing twelve months basis (FY 12), MOIL is trading at EV/EBITDA of 5.7 times, EV/Sales of 2.8 times and P/E of 11.1 , P/S of 5.1 times. We believe that sustained increase in realizations and any improvement in product mix should act as a trigger for the company; as a result we maintain our buy rating on the stock with a target price of Rs.336,” says A C Choksi research report. Bodies Corporate holding more than 50% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.
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