Buy Visaka Inds, target of Rs 55: Sunidhi Securities

Sunidhi Securities & Finance has recommended a buy rating on Visaka Industries with a target of Rs 55 in its November 24, 2008 research report. "During Q2FY09, sales have gone up by 27 per cent to Rs 121 crore on whereas net profit was placed at Rs 7 crore against net loss of Rs 2.7 crore in Q2FY08. At the CMP of Rs 36, the share is trading at a P/E of 1.8x on FY09E and 1.5x on FY10E. We recommend BUY with a medium to long term target of Rs 55," says Sunidhi Securities & Finance's 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.

......