Accumulate ILandFS Transportation: Tater

Accumulate ILandFS Transportation Networks (ITNL), says Aashish Tater, Fort Share Broking.

Tater told CNBC-TV18, "ITNL is one stock which worries me as well as I am in favour of the stock. My past experiences suggest all the new listings at one point of their lifetime actually trades in that 6-7 times price band that is the price earning multiple. Going by the promising prospects of the business, I get attracted to this stock." He further added, "The company will do an EPS of close to Rs 18-19 for the current fiscal. We expect NHAI to award projects of 30,000 km in the rural-urban road highways where the company is also a pioneer. Looking at the current order book of the company, the company is sitting on Rs 120 billion order book and is expected to grow at 20-22% going forward. So, here we have suggested to our clients that nobody can guess the downside for the stock because it is a relatively new listing, but one should definitely accumulate this particular stock because of the promising future it has into." "IL&FS being one of the premium corporate houses in India, we feel the stock would not go to 6-7-8 times. But can easily bottom out around 10-11 PE multiple means that the stock should be accumulated between the range of Rs 200-270 odd levels from a longer-term perspective." "Looking into the subsidiaries of the company, the company has a joint venture with Italy based companies where the company owns 37% and the company is actually operating on a BoT project for 1212 km. Apart from that, the company