Thursday, 13 November 2008

Buy Reliance Infra: Indiabulls Securities

Indiabulls Securities Research has recommended a buy rating on Reliance Infrastructure in its report dated October 29, 2008. "We have revised our estimates for the Company largely on account of our conservative outlook towards the overall economy in the near-to-medium term. However, we believe that the recent correction in the Company’s stock price provides a good buying opportunity. Our SOTP valuation gives us a fair market price of Rs. 605, implying an upside of 41% from the current market price. Therefore, we have upgraded our rating to Buy," says Indiabulls Securities' research report.

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Source: Moneycontrol

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