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Buy Torrent Power, target of Rs 460: Hem Securities
Hem Securities has come out with a research report on Torrent Power. The broking firm has recommended buy on the stock with a price target of Rs 460, in its report dated May 22, 2010.
Hem Securities has come out with a research report on Torrent Power . The broking firm has recommended buy on the stock with a price target of Rs 460, in its report dated May 22, 2010.
The report says, "Torrent Power is one of the leading brands in the Indian power sector, promoted by the Rs 45 billion Torrent Group - a group committed to its mission of transforming life by serving two of the most critical needs - Healthcare and Power."
"The company is running at a P/E multiple of 17.93x to its EPS of Rs.17.72. The company is lined up with big orders in hand such as the power plant at Dahej and the Distribution Franchisee. The company has posted whopping results with a surge in its operating profit margin and net profit margin from the previous financial year. We are positive on the stock and recommend buy on the stock with a medium-term time horizon with a price target of Rs 460," according to report.
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