Sasken Comm has target of Rs 189: Joshi

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Sasken Comm has target of Rs 189: Joshi

Sharmila Joshi, Co-Head PCG Sales at Emkay Global Financial Services has a target of Rs 189 on the Sasken Communication.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sharmila Joshi See what other Experts & Brokerages are saying about Sasken Comm See messages about Sasken Comm Sasken Comm BSE | NSE 30/05/12 Are Mutual Funds betting on Sasken Comm?

Sharmila Joshi, Co-Head PCG Sales at Emkay Global Financial Services has a target of Rs 189 on the Sasken Communication .

Joshi told CNBC-TV18, "I have a target of Rs 189 on the Sasken Communication. The positive ticker for this company is when it managed to get its credit risk insurance payment against Nortel which was its shareholder at one point in time. They were defaulters because they had filed for Chapter 11. So this was kind of Rs 6 crore credit risk insurance payment that they got but it was path breaking for more reasons than one."

She added, "When you are talking of a company of a size of Sasken where it did a Rs 19 crore profit in December quarter and you are talking of a Rs 6 crore payment in February and I think it's quite significant. Its I-SAT phone is to be launched in June. The stock is trading at a slight discount to its peer set, so for these three reasons I buy Sasken with a target of Rs 189."

Disclosure - Analyst does not have any holdings but may have recommended stocks to clients.