Jul 18, 2008, 02.16 PM | Source: Moneycontrol.com
Religare Research has recommended a buy rating on Nectar Lifesciences with a target price Rs 503. Nectar is trading at 4.9x FY09E FDEPS of Rs 55.8 and 3.4x FY10E FDEPS of Rs 81.1.
"Nectar is trading at 4.9x FY09E FDEPS of Rs 55.8 and 3.4x FY10E FDEPS of Rs 81.1. Based on its strong growth prospects, leadership in key verticals and transitioning up the high margin value chain, we value the company at 6x FY10E earnings and recommend a Buy with a target price Rs 503," says Religare's research report.
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