Thursday, 13 November 2008

Buy GSPL, target of Rs 36: KRChoksey

KRChoksey Research has maintained its buy rating on Gujarat State Petronet (GSPL) with a target price of Rs 36 in its November 4, 2008 research report. "GSPL reported net sales of Rs 118.5 crore, up 24.4% y-o-y; volume was below our expectation and declined to 14.9 mmscmd. We maintain a BUY on the stock with target price of Rs 36, giving an upside potential of 21%. At the target price the stock would be valued at 5.0x its FY10E CEPS of Rs 7.1, and 1.5x P/BV, " says KRChoksey's research report.

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Source: Moneycontrol

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