ICSA India has target of Rs 220, says Satish Betadpur, Independent International Investment Research.
Betadpur told CNBC-TV18, "ICSA India is a stock that I have been looking at from 2004 when it was a tiny cap and they were trying to raise funds. It has grown consistently through that time and they have delivered on every metric mentioned by them five years ago. This is a management which has great track record, the earnings are growing and the multiple today is 5.68 times, so this is a very cheap stock."
He further added, "They are in power sector, which is extremely attractive. They provide embedded systems for power and these systems help in monitoring and curbing transmission and distribution losses, which in India is one of the biggest problems that is plaguing all electricity boards. They are in the sweetest part of sector that is growing extremely well and this is a company that is doing very well in that space. So this is a huge thumb up for any investor who wants to play in the power sector and wants to be there over the medium to long term. The day target is Rs 220 but this stock will double triple over the medium and long term."
