Reliance Money has recommended a buy rating on Sintex India with a price target of Rs 289 in its report dated October 29, 2009.
"We re-iterate our positive view on Sintex, with the smooth order inflow expected from the government in the mass housing segment and a strong order book position (at Rs 14 billion) would enable the company to sustain its growth momentum. Moreover, we believe revival in the overseas subsidiary performances would add sheen to its business going forward. Along with strong financials in place (cash in hand of about Rs 12 billion) and its well diversified capabilities to capitalize on emerging opportunities, we remain optimistic on Sintex. We revise our rating from Hold to Buy on Sintex with a target price of Rs 289 (11x FY11 EPS)," says Reliance Money's report.
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