Buy Selan Exploration, target Rs 247: Sharekhan

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Buy Selan Exploration, target Rs 247: Sharekhan

Sharekhan has maintained its buy rating on Selan Exploration with a price target of Rs 247. At the current market price, the stock trades at 8x FY2010E and 6.1x FY2011E earnings.

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ALSO READ See previous views by Sharekhan See what other Experts & Brokerages are saying about Selan Explore See messages about Selan Explore Selan Explore BSE | NSE 31/05/12 Are Mutual Funds betting on Selan Explore?

Sharekhan has maintained its buy rating on Selan Exploration with a price target of Rs 247 in its report dated August 11, 2009.

"We have marginally revised our FY2010 earnings estimate. At the current market price, Selan Exploration stock trades at 8x FY2010E and 6.1x FY2011E earnings. We maintain our 'Buy' recommendation on the stock and price target of Rs 247 based on net present value method," says Sharekhan's report.

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