Axis Direct's reserach report on Navkar CorporationWe visited Navkar Corporation’s Vapiterminal and came back impressed with the overall development. Customs-bounded area is largely ready, while ground work for rail-siding and logistics park has also started. The approach road from National Highway 8 (much narrower earlier) has been broadened (patch of ~500 mt still left) to facilitate the entry and exit of trucks/ trailers; commercial operations to start by Jan’16. We remain positive on Navkar, given (a) expected ramp-up at Vapi terminal (initially through road and later with Rail siding) and (b) scale up at Panvel terminal given 80% expansion in capacity by Apr’16. Maintain BUY with 1-yr TP of Rs 255 (18x FY18E PE; discounted back by 15%).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.
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