Wednesday 19 November 2008

Buy IVRCL Infra: Indiabulls Securities

Indiabulls Securities Research has maintained its buy rating on IVRCL Infrastructure and Projects in its November 11, 2008 research report . "IVRCL’s standalone revenue increased by 65.1% yoy to Rs 11,366 million. Net profit soared 62% yoy to Rs 571 million during the quarter. Our SOTP-based fair value estimate stands reduced to Rs 178 due to the challenging macroeconomic environment. However, we believe that the stock has corrected significantly in the recent past and is trading at an attractive valuation. Our fair value estimate reflects a potential upside of 28% over the current market price. Hence, we maintain our Buy rating on the stock," says Indiabulls Securities' 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

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.