Buy PSL, target of Rs 120: PINC

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Buy PSL, target of Rs 120: PINC

PINC Research has maintained its buy rating on PSL with a target price of Rs 120. PSL Ltd. (PSL) registered an impressive jump of 44% in revenues (after netting excise) to Rs 8.9 billion in Q3FY09 on back of higher despatches and higher realisations of HSAW pipes.

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PINC Research has maintained its buy rating on PSL with a target price of Rs 120 in its February 5, 2009 research report. "PSL Ltd. (PSL) registered an impressive jump of 44% in revenues (after netting excise) to Rs 8.9 billion in Q3FY09 on back of higher despatches and higher realisations of HSAW pipes. We maintain our 'BUY' recommendation with a price target of Rs 120," says PINC's research report.

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