Friday, 7 November 2008

Buy INOX Leisure, target of Rs 63: Nirmal Bang

Nirmal Bang has maintained its buy rating on INOX Leisure with a target price of Rs 63 in its research report. "Inox declared its Q2FY09 results which were in line with our expectations on the revenue front. The company reported revenues of Rs 60.0 crore which were in line with our expectations, as against Rs 54.2 crore in Q2FY08 i.e. 10.7% rise YoY basis and Rs 51.9 crore in Q1FY09, a 15.5% rise on QoQ basis. We reiterate our BUY rating on the stock lowering our price target due to slowdown in the economy as a whole, to Rs 63 per share with a long term view," says Nirmal Bang's research report.

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Source: Moneycontrol

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