Buy Varun Shipping Co,target of Rs 96: LKP Shares

6562 Investors following Varun Shipping. Share this News with them.

0

Like this story, share it with millions of investors on M3

Buy Varun Shipping Co,target of Rs 96: LKP Shares

LKP Shares has maintained its buy rating on Varun Shipping Company (VSL) with a target of Rs 96. The research firm expects VSL to post an EPS of Rs 11 and Rs 13 for FY09E and FY10E respectively.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Buy Hero Honda: Motilal Oswal ONGC an underperformer: HDFC Securities Buy Tourism Finance, target of Rs 30: Sharekhan Motilal Oswal neutral on HDIL Sell Sesa Goa, target of Rs 117: Motilal Oswal ALSO READ See previous views by LKP Shares See what other Experts & Brokerages are saying about Varun Shipping See messages about Varun Shipping Varun Shipping BSE | NSE 29/05/12 Are Mutual Funds betting on Varun Shipping?

LKP Shares has maintained its buy rating on Varun Shipping Company with a target of Rs 96 in its report. "We expect VSL to post an EPS of Rs 11 and Rs 13 for FY09E and FY10E respectively. Effective asset deployment and equivalent depreciation merit attention to cash EPS numbers at an expected of Rs 29 and Rs 32 for FY09E and FY10E. With a NAV of Rs 110, the stock is trading at a discount of 39% to its NAV. A further upside in revenues due to completion of fleet addition plan can be envisaged. We re-iterate our Buy on the stock with a revised target of Rs 96, giving an appreciation of 37% over a medium term perspective with low risk," says LKP Shares' 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.

To read the full report click on the attachment......