Honda Siel Power can cross Rs 300: G Shah

Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Gaurang Shah See what other Experts & Brokerages are saying about Honda Siel See messages about Honda Siel Honda Siel BSE | NSE 10/02/12 Are Mutual Funds betting on Honda Siel?

Gaurang Shah of Geojit Financial Services is of the view that Honda Siel Power can cross Rs 300.

Shah told CNBC-TV18, "The rational behind the choosing of Honda Siel Power is that its 68% subsidiary of Honda Motor Company and it is the largest manufacturer of portable generators, water pump-sets and general-purpose engines. The result for Q2 was not all that impressive but definitely keeping in mind the power deficit that the country faces all across the off take of gen-set is going to increase. Thereby increasing the topline and bottomline of the company and of course given the fact that the water pump-set are used in the agriculture purpose wherein this particular kind of gen-sets that Honda Siel Power manufactures is going to go up. So time horizon of 1-1.5 year and a price target of Rs 295 to Rs 300 plus could easily be seen on it."