Friday 14 November 2008

Buy Indraprastha Gas, target of Rs 130: KRChoksey

KRChoksey Research has recommended a buy rating on Indraprastha Gas with a target price of Rs 130 in its November 13, 2008 research report. "IGL reported net sales of Rs 215.2 crore, up 23.6% Y-o-Y, on the back of increase in volume of CNG by 22.7% and PNG by 26.7% to 117.2 million Kg and 13.3 mmscm respectively. We recommended a BUY on the stock with target price of Rs 130, giving an upside potential of 23%. At the target price the stock would be valued at 9.0x and 7.6x its FY09E & FY10E EPS of Rs 14.5 and Rs 17.0 respectively," says KRChoksey's research report.

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

Source: Moneycontrol

Posted by Harsh at 08:48

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
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.