Jindal Photo has target of Rs 159.7: Vishal Jajoo

Jindal Photo has a target of Rs 159.7, says Vishal Jajoo, Nirmal Bang Sec.

Jajoo told CNBC-TV18, "Jindal photo has a target of Rs 159.7. Basically if one closely looks at earnings the net sales have increased by 13%. However, on the back of robust increase in EBITDA which has increased three fold times the profit after tax stood at Rs 14.6 crore as compared to Rs 4.3 crore during the same quarter last year. On a small equity the EPS for this quarter stood at Rs 11 as compared to Rs 2.9."
He further added, "Now when one analysis this earnings or even expects the whole year EPS to be around anywhere between Rs 33 to 44, the stock is quoting at Rs 159.7, which is less than 4 times its earnings for FY12. If one compares it from a book value perspective at present the book value is at Rs 228 and the present price is at significant discount to it, so therefore we expect an upside in case of Jindal Photo and for the day we have a target of Rs 159.7."