Friday 7 November 2008

Buy Bharati Shipyard, target of Rs 185: Asit C. Mehta

Asit C. Mehta has maintained its buy rating on Bharati Shipyard with a target price of Rs 185 in its November 6, 2008 research report. "For Q2 FY09, Bharati Shipyard Limited’s (BSL) net sales increased to Rs 2137.8 million, from Rs 1480.3 million in Q2FY08, registering a growth of 44.4%. We maintain a BUY recommendation on account of the strong order book, to arrive at a target price of Rs 185, which is equivalent to a forward P/E of 6x to its FY10E EPS (excluding subsidy)," says Asit C. Mehta's research report.

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Source: Moneycontrol

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