Buy Nava Bharat Ventures, target of Rs 280: Hem

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Buy Nava Bharat Ventures, target of Rs 280: Hem

Hem Securities has maintained its buy rating on Nava Bharat Ventures with a target of Rs 280. The net sales for the company gone up by 64.77% to Rs 2904.77 million for the Q1FY09 as against the net sales of Rs 1762.91 million for the Q1FY08.

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Hem Securities has maintained its buy rating on Nava Bharat Ventures with a target of Rs 280 in its September 22, 2008 research report. "The company posted excellent financial figures for the quarter ended June 2008. The net sales for the company gone up by 64.77% to Rs 2904.77 million for the Q1FY09 as against the net sales of Rs 1762.91 million for the Q1FY08.Since the stock seems to offer extremely good investment opportunities, we initiate a 'BUY' signal on the stock with a target price of Rs 280 in medium term investment horizon expecting an appreciation of about 28% from the current level," says Hem Securities' research report.

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