Omnitech Infosolutions has target of Rs 225: Shanbhag

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Omnitech Infosolutions has target of Rs 225: Shanbhag

Ganesh Shanbhag, SMS Financial Services is of the view that Omnitech Infosolutions has target of Rs 225.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ganesh Shanbhag See what other Experts & Brokerages are saying about Omnitech Infosolutions See messages about Omnitech Infosolutions Omnitech Infoso BSE | NSE 30/05/12 Are Mutual Funds betting on Omnitech Infoso?

Ganesh Shanbhag , SMS Financial Services is of the view that Omnitech Infosolutions has target of Rs 225.

Shanbhag told CNBC-TV18, "Omnitech Infosolutions is a relatively new stock, came out as an IPO just around 20 days back. The IPO was priced at Rs 105. IPO got oversold nearly 70 times looks good because it is sitting on Rs 35 crore cash that they had raised they are deploying it in the development center at Pune as well as one development center in the Gulf. There is expectation that they might bag a good order in the coming days. The stock looks good because it's in the infrastructure support system and we are expecting a target of around Rs 225 over a one-year period."

Disclosure: Analyst has the stock in his portfolio & has recommended to its clients.