Praj Industries an outperformer: FinQuest Securities

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Praj Industries an outperformer: FinQuest Securities

FinQuest Securities has rated Praj Industries (PIL) as an outperformer. PIL's net revenue grew by 16.5% Y-o-Y to INR 2100.5 million in 3QFY09. PAT increased by 20% Y-o-Y and 57% Q-o-Q to INR 473 million.

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FinQuest Securities has rated Praj Industries as an outperformer in its January 27, 2009 research report . "PIL's net revenue grew by 16.5% Y-o-Y to INR 2100.5 million in 3QFY09. PAT increased by 20% Y-o-Y and 57% Q-o-Q to INR 473 million. In the past three years, the company has been trading in one year forward PE band of 7 to 15. We expect the company to trade at lower end of historical PE band (i.e 7x), once new order flows starts coming in FY10 giving better long-term visibility. We rate the stock as Outperformer," says FinQuest Securities' research report.

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