Thursday, 13 November 2008

Buy Shiv Vani Oil, target of Rs 544: Nirmal Bang

Nirmal Bang has maintained its buy rating on Shiv Vani Oil & Gas Exploration Services with a revised target price of Rs 544.1 in its November 5, 2008 research report. "Shiv Vani Oil registered strong top line growth of 92.4% y-o-y to Rs 187.2 crore for 2Q 09. We reiterate our BUY rating on Shiv Vani Oil. However, we are revising the target price to Rs 544.1 based on our FY10 earnings to factor in the slowdown of the economy in general and sector in particular," says Nirmal Bang's research report.

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Source: Moneycontrol

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