Hold Kalindee Rail; target Rs 255: Firstcall Research

"For the quarter ended on December 31, 2009 (Standalone) Kalindee Rail Nirman has registered a 44.77 % (QOQ) growth in the net sales and stood at Rs 375.74 million from Rs 259.54 million of the previous quarter. The company’s current order book stands at Rs 4830 million, over 1.72 times its FY-09 revenues. The company’s order book and revenues to lumpiness, it also relatively shields its revenues from the slowing economic growth, as the investments in rail infrastructure — a must to bolster the economy — may be the last to see any downturn. We recommend ‘HOLD’ in this particular scrip with a target price of Rs 255 for medium to long term investment," says Firstcall research report.

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