Friday 7 November 2008

Buy Tata Steel, target of Rs 325: KRChoksey

KRChoksey Research has recommended a buy rating on Tata Steel with a target price of Rs 325 in its October 31, 2008 research report."EBITDA has increased by 43.68% Y-o-Y from Rs 2,733.4 crore to Rs 3,075.9 crore. PAT has increased to 50.13% from Rs 1,488.4 crore to Rs 1787.8 crore. At the CMP of 210 the company is trading at 1.9X of our FY 09 Estimated EPS of Rs 100. We recommend a BUY on the stock despite the growth concerns purely on the basis of attractive valuations with a medium term target price of Rs 325," says KRChoksey's 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

Posted by Harsh at 07:34

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
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.