2296 Investors following Royal Orchid. Share this News with them.
0
Like this story, share it with millions of investors on M3
Buy Royal Orchid Hotels; target of Rs 130: Hem Securities
Hem Securities is bullish on Royal Orchid Hotels and has recommended buy rating on the stock with a target of Rs 130 in its September 13, 2010 research report.
Hem Securities is bullish on Royal Orchid Hotels and has recommended buy rating on the stock with a target of Rs 130 in its September 13, 2010 research report.
"Royal Orchid Hotels is raising Rs 150 crore to fund its new projects will be used to double its total room capacity to 2,000 by the end of the next fiscal through the issue of nonconvertible debentures and/or preferential convertible share warrants, or other financial instruments, including QIP. The EPS of the company rose from Rs 0.57 in the same quarter last year to Rs 0.88 in Q2FY11. At the CMP of Rs 84.85, the stock is trading at a standalone PE of 14.91x and 11.51x its FY11E and FY12E EPS of Rs 5.69 and Rs 7.37, respectively. Since the stock offers good opportunity, we initiate a 'BUY' signal on the stock with a target price of Rs 130 in medium to long term investment horizon expecting an appreciation of about 53.21%," says Hem Securities 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.
