India Capital Markets has recommended a hold rating on Arshiya International with a target price of Rs 342 in its August 1, 2008 research report. "Arshiya International Ltd has reported a revenue of Rs 1.40 billion in Q1FY09, up by 79% on yoy basis and 8% on qoq basis. EBDITA margins were higher by 460 bps to 14.4% in Q1FY09 on yoy basis led by increase in services for end to end logistics solutions."

"We maintain our strong business outlook for its existing segments, however we are concerned on the execution risk of its newly ventured rail business. Hence we recommend a HOLD on the stock, target Rs 342," says India Capital Markets' research report.

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