Motilal Oswal neutral on Nagarjuna Construction

13495 Investors following Nagarjuna Const. Share this News with them.

0

Like this story, share it with millions of investors on M3

Motilal Oswal neutral on Nagarjuna Construction

Motilal Oswal has maintained its neutral rating on Nagarjuna Construction Co. (NCC). During 2QFY09, interest cost increased to Rs 275 million (+15% QoQ, 18% YoY).

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Buy IVRCL Infra: Motilal Oswal Buy HBL Power Systems: SKP Securities Buy HCC, target of Rs 60: Motilal Oswal Buy Syndicate Bank, target of Rs 71: Karvy Buy Tech Mahindra, target of Rs 430: Anand Rathi ALSO READ See previous views by Motilal Oswal See what other Experts & Brokerages are saying about Nagarjuna Const See messages about Nagarjuna Const NCC BSE | NSE 28/05/12 Are Mutual Funds betting on NCC?

Motilal Oswal has maintained its neutral rating on Nagarjuna Construction Co in its November 12, 2008 research report. "During 2QFY09, interest cost increased to Rs 275 million (+15% QoQ, 18% YoY). Going forward, as the interest cost on working capital and short term debt is reset, interest cost is expected to increase by 50-75bp v/s September 2008 levels. We expect FY09 interest cost at Rs 1.3 billion, up 74% YoY. We expect NCC to report net profit of Rs 1.6 billion in FY09 (+2% YoY) and Rs 2.1 billion (+ 24% YoY) in FY10. At the CMP of Rs 64, the stock is trading at reported PER of 8.8x FY09E and 7.1x FY10E. Maintain Neutral," says Motilal Oswal's 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.

To read the full report click on the attachment......