Saturday 11 October 2008

Buy C & C Constructions, target of Rs 170: PINC Research

PINC Research has maintained its buy rating on C and C Constuctions with a target of Rs 170 in its October 8, 2008 research report. "At the CMP of Rs 120, C&C trades at a P/E of 3.1x and EV/EBIDT of 3.2x its FY10E earnings. We value C&C’s core business operations at Rs 130 (3.3x FY10E EPS of Rs 38.6) and its 49% stake in Kurali Kiratpur BOT at Rs 40 per share. Thus, on a SOTP basis we arrive at Rs 170 per share as the fair value of the stock. Hence, we maintain our ‘BUY’ recommendation on the stock with a revised 12-month price target of Rs 170," says PINC's research report.

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Source: Moneycontrol

Posted by Harsh at 00:28

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