Buy Tulip Telecom, target of Rs 1393: Justtrade.in

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Justtrade.in has recommended a buy rating on Tulip Telecom with a target price of Rs 1393 in its August 1, 2008 research report. "It's EBITDA and Net Profit margins were at 22.1% and 15.4% respectively in FY08. The company enjoys a healthy and consistent Return on Equity, which stood at 42.8% in FY07 and is expected to be nearly 52% in FY08."

"On the basis of our research, we feel that this is a good stock to buy at the current market price of Rs 977.95. If everything goes well, the price is likely to appreciate to Rs 1393, within 12 months, translating into a gain of about 42.5%," says Justtrade.in's research report.

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