Friday, 14 November 2008

Buy Nava Bharat Ventures, target of Rs 247: KRChoksey

KRChoksey Research has maintained its buy rating on Nava Bharat Ventures with a target price of Rs 247 in its November 7, 2008 research report. "Net sales surged by 157.0%(YoY) to Rs 398.3 crore in Q2FY09 against Rs 151.3 crore in Q2FY08. On back of company’s diversified business model, power business initiatives, substantial land value holding at Hyderabad & Secundrabad and improving sugar prices, we maintain our BUY rating on the stock with the target price of Rs 247. Though we are cautious of ferro alloys business slow down, but we believe the concerns are already been discounted heavily in the stock prices," says KRChoksey's research report.

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Source: Moneycontrol

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