13514 Investors following Parsvnath. Share this News with them.
0
Like this story, share it with millions of investors on M3
Hold Parsvnath; target of Rs 140: KRChoksey
KRChoksey Research has recommended hold rating on Parsvnath Developers with a target of Rs 140. At the CMP of Rs 125, Parsvnath is trading at 5.3 x, FY09E EPS of Rs 23.4.
KRChoksey Research has recommended hold rating on Parsvnath Developers with a target of Rs 140, in its August 13, 2008 report. "At the CMP of Rs 125, Parsvnath is trading at 5.3 x, FY09E EPS of Rs 23.4. Parsvnath had a poor quarter as sales were discouraging, EBITDA and PAT margins were both lower due to rising input and interest cost. Receivables have reached critical levels (current debtors are 81% of FY08 sales) and are a big concern as it blocks the much needed working capital and the chances of defaults could increase. Successful execution of current projects and early monetization of future projects would be key triggers. Slowing sales and deteriorating balance sheet are key concerns. We recommend hold with a target price of Rs 140. At the target price, the stock would be valued at 5.9 x FY09E EPS of Rs 23.4, implying an upside potential of 12.1%,"according to KRChoksey 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.
