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Mar 19, 2010, 02.32 PM IST
Buy Vascon Engineers, says VK Sharma of HDFC Securities.
Buy Vascon Engineers , says VK Sharma of HDFC Securities.
Sharma told CNBC-TV18, "There is tremendous amount of visibility in Vascon Engineers. Currently I think 94% of the business income comes from engineering, procurement and construction services (EPC) and 6% from real estate development. So that could change from next year and because in the past three years this has grown by 54% CAGR and the next one year also another 50% growth rate is expected.”
He further added, “Although the issue could never closed above the issue price baring the listing day but it is a good stock. It has seen a low of Rs 120 and one could buy probably from current levels of Rs 140 odd and average it around Rs 120. For a year’s perspective the most of the sellers have gone out of the stock."
Disclosure: Analyst doesn’t hold the above stock.
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