Saturday 20 September 2008

Above Rs 400, ICSA has target of Rs 900: Agarwal

Sanjeev Agarwal of Globe Capital Market is of the view that above Rs 400, ICSA has target of Rs 900.
Agarwal told CNBC-TV18, "ICSA India is a good company; fundamentally it is in a right space. They are providing solutions to the electricity boards and they are in the power space. So a lot of reforms are getting in and all these electricity boards require these kinds of expertise, which opens up a huge market for this particular company."
He further added, "Technically this company has been outperforming and it has a sideways kind of a structure. Right now we are seeing a range between Rs 200 and Rs 400. Once it crosses Rs 400, we are looking at a target of somewhere around Rs 900 for that. So this seems to be an extremely bullish pattern, which is unfolding. The breakout of that is somewhere around Rs 395-400." Disclosure: Analyst doesn't hold the above stock but have recommended it to the clients.

MoneyControl

Posted by Harsh at 08:18

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