Firstcall Research report on Reliance Industrial Infrastructure“Reliance Industrial Infrastructure Limited is Reliance Group Company was incorporated in September 1988 as a Public Limited Company in the name of "Chembur Patalganga Pipelines Limited". The Company commenced its commercial operation in March 1992 ant the name of the Company was subsequently changed to "CPPL Limited" in September 1992 and thereafter to its present name viz., "Reliance Industrial Infrastructure Limited" in March 1994.” “At the current market price of Rs.493.10, the stock P/E ratio is at 29.48 x FY15E and 25.41 x FY16E respectively. Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.16.73 and Rs.19.40 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 9% and 6% over 2013 to 2016E respectively. On the basis of EV/EBITDA, the stock trades at 17.29 x for FY15E and 15.01 x for FY16E. Price to Book Value of the stock is expected to be at 2.88 x and 2.59 x respectively for FY15E and FY16E. We recommend ‘BUY’ in this particular scrip with a target price of Rs.542.00 for Medium to Long term investment,” says Firstcall Research report.
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