Tuesday, 15 September 2009

Buy JP Associates, target of Rs 274: Motilal Oswal

Motilal Oswal has maintained its buy rating on Jaiprakash Associates with a target price of Rs 274 in its September 10, 2009 research report.

"We expect JPA to report net profit of Rs 12 billion in FY10 (up 34% YoY) and Rs 10.7 billion in FY11 (down 11% YoY), given lower profitability in cement business. We arrive at revised SOTP-based target price of Rs 274 per share. Our valuations are contingent on successful fund raising in JPVL and power projects attaining milestone based progress, Buy," says Motilal Oswal's research report.

Source: Moneycontrol

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