Hold Era Infra Engg; target of Rs 275: Bonanza

“Era Infra Engineering has been able to maintain growth in its top-line and bottom-line in Q1FY11. The company has also bagged a number of projects for infrastructure development in the current quarter. It has also managed to achieve a financial closure for a number of projects including Rs 1723 crore BOOT project for National Highway authority. At current market price the stock is trading at an earning multiple of 11.91 x for EPS of 18.64 in FY11. Investors are recommended to hold the counter with a target of Rs 275 in medium term,” says Bonanza Research report.

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