Wednesday, 29 October 2008

Buy TIL, target of Rs 300: SKP Securities

SKP Securities has recommended a buy rating on TIL with a target price of Rs 300 in its October 29, 2008 research report. "Net sales were up by 49.69% for Q2FY09 at Rs 264.12 crores. PAT was up by 49.02% y-o-y at Rs 9.12 crores. At the current level of Rs 156.60, TIL is trading at 3.14 x FY10E earnings of Rs 49.91. We are revising our price target and recommend a BUY to the stock with a target price of Rs 300 at 6 x FY10E earnings, giving it an upside potential of 92%," says SKP Securities' research report.

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Source: Moneycontrol

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