Buy Jyoti Structures , says Rajesh Agarwal of Eastern Financiers.
Agarwal told CNBC-TV18, "One can buy Jyoti Structures with a stop loss of Rs 68 and day target of Rs 79. This company is a solution provider in the area of higher voltage transmission lines and power sub stations. June quarter numbers were according to expectations. Top line was up by around 13%, bottom-line was flat."
He further added, "They have some problem because of high interest rates but going forward the performance is going to improve. The order inflows were very good. Q1 saw an order inflow of around Rs 621 crore and as of June the order backlog was in excess of Rs 4400 crore. Going forward in the next 3-4 quarters we believe the order inflows will be quite impressive and execution of order backlog will also be taken care of. Even on the valuation front it is trading at an extremely attractive valuation at PE of around 5 and price to book of less than 1."
