Thursday 6 November 2008

GMDC has target of Rs 83: Asit C. Mehta

Asit C. Mehta has revised target price of Gujarat Mineral Development Corporation, GMDC to Rs 83 in its November 04, 2008 report. "Despite lower volumes and higher operating expenses we expect GMDC to maintain a CAGR of 32% in sales from FY08-FY10E. PAT is expected to register a growth of 56% for the same period. We value company’s mining business on the basis of relative valuation (P/E multiple) and power business on the basis of Asset replacement cost and arrive at revised price target of Rs 83," says Asit C. Mehta's research report.

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Source: Moneycontrol

Posted by Harsh at 08:09

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