Hold Transport Corporation: Religare Research

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Hold Transport Corporation: Religare Research

Religare Research has maintained hold rating on the Transport Corporation of India

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Religare Research has maintained hold rating on the Transport Corporation of India , TCI, dated November 1, 2007. "Q2 results were below our estimates. At the CMP of Rs128, the stock trades at 22.4x its 1 year forward earnings. After adjusting for the upside from the real estate properties, the core business trades at 19.6x its 1-year forward earnings. We maintain our Hold rating and our target price of Rs125." Report by Religare Research

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