Tuesday 11 November 2008

Buy Jindal Steel and Power: Motilal Oswal

Motilal Oswal has maintained its buy rating on Jindal Steel and Power in its report dated October 31, 2008. "Jindal Steel and Power has completed expansion of steel capacity to 2.3MTPA.Strong volume growth due to ramp up in steel production from 1.4m ton in FY08 to 2.5m ton in FY10. Total power capacity is expected to increase from 1083MW presently to 9000-10,000MW over the next five years. The stock is trading at a P/E of 4.4x FY09E and EV/EBITDA of 4.1x FY09E. Reiterate Buy," says Motilal Oswal's research report.

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Source: Moneycontrol

Posted by Harsh at 07:37

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