Monday, 27 October 2008

Hold Phillips Carbon, target of Rs 139: Nirmal Bang

Nirmal Bang has maintained its hold rating on Phillips Carbon Black with a revised target of Rs 139 in its research report. "PAT for Q2FY09 was Rs 15.4 crore as against Rs 24 crore in Q2FY08 down by 36.1% YoY basis and Rs 14.4 crore in Q1FY09 up by 6.5% on QoQ basis. Tyre manufactures being the major customers of the company & looking at the slowdown in the Auto sector we revise our earnings expectations for the company & reiterate a HOLD rating on the stock with a long term view with a revised target of Rs 139 per share," says Nirmal Bang's research report.

Disclaimer: The views and investment tips expressed by investment experts on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

No comments:

Post a Comment

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.