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Reduce India Infoline, target of Rs 48: Prabhudas Lilladher
Prabhudas Lilladher has maintained its reduce rating on India Infoline with a target price of Rs 48. India Infoline (IIFL) reported revenue and PAT decline of 25.3% YoY and 54.3% YoY in Q3FY09.
Prabhudas Lilladher has maintained its reduce rating on India Infoline with a target price of Rs 48 in its January 21, 2009 research report. "India Infoline (IIFL) reported revenue and PAT decline of 25.3% YoY and 54.3% YoY in Q3FY09 (our expectation - 17.9% YoY and 50.3% YoY decline, respectively). At less than 1x FY09E BV, IIFL stock is undoubtedly cheap. However, given the weak outlook for most of its business segments, we expect the stock to continue its poor price performance for some more time. Maintain 'Reduce'. Traget of Rs 48," says P Lilladher's research report.
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