Moneycontrol
Last Updated : Jun 17, 2016 02:13 PM IST | Source: Moneycontrol.com

Buy Gayatri Projects; target of Rs 1136: Ajcon Global

Ajcon Global is bullish on Gayatri Projects has recommended buy rating on the stock with a target price of Rs 1136 in its research report dated June 16, 2016.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More


Ajcon Global's research report on Gayatri Projects


The Company’s topline in Q4FY16 witnessed an increase of 19.3% to Rs. 668 crore on account of faster execution. On QoQ basis too, it witnessed an impressive topline growth of 58.5%. For the full year the Company registered a topline growth of 13.2% to touch Rs. 1,812 crores as against estimated Rs. 2,162 crores. The Company missed our FY16 estimates by some distance as Unit 2 (660MW, operational since Sept 2015) had to be shut for almost 45 days in April-May 2016 due to Tamil Nadu floods, but it is currently operating at full swing. We believe this was a one off event and expect good performance in coming years.

 
We maintain a buy rating on the stock with a target price of Rs 1136.

For all recommendations, click here

Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies 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.

First Published on Jun 17, 2016 02:13 pm
Sections
Follow us on
Available On