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Last Updated : Apr 16, 2018 09:01 AM IST | Source: Moneycontrol.com

Buy Bhagyanagar India, target Rs 55: Sumit Bilgaiyan

"The company currently has an overall installed capacity of 9 MW comprising of 7 wind turbines in state of Karnataka and 6.4 MW comprising 5 wind turbines in Tamilnadu. We have a Buy recommendation with target price of Rs 55, stoploss Rs 47," says Sumit Bilgaiyan, Founder of Equity99.

 
 
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By Sumit Bilgaiyan

Established in 1985, Bhagyanagar India Limited (BIL), the flagship company of Surana group, is engaged in Copper and Wind Power business. Recently it has announced demerger of it’s solar and real estate business into two separate companies which will create a lot of value for it’s shareholders.

Post this scheme of arrangement Bhagyanagar India will be focused on copper business. It will continue to enhance it’s product mix according to the requirements of OEM clients. Bhagyanagar is looking at a minimum of 10 percent volume growth in this year.

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The situation post GST looks very promising. The company currently has an overall installed capacity of 9 MW comprising of 7 wind turbines in state of Karnataka and 6.4 MW comprising 5 wind turbines in Tamilnadu. We have a Buy recommendation with target price of Rs 55, stoploss Rs 47.

Disclaimer: The author is Founder, Equity99. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Apr 16, 2018 08:59 am
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