MUMBAI: Sharekhan has recommended buy on Punj Lloyd for a target price of Rs 532, an upside of 84.1 per cent from current level. Punj Lloyd is the second largest erection procurement and construction player in the country with a global presence.
Sharekhan believes that Punj Lloyd along with SEC and Simon Carves, is well integrated and poised to tap the global opportunity available in hydrocarbons and infrastructure sectors.
The company has witnessed a five-fold increase in its average order size from $30 million to about $130-140 million. This move-up on the value chain has made Punj Lloyd more competitive in executing larger and complex orders.
Sharekhan expects the spectacular order flow to continue for Punj Lloyd. The current order book of Rs 20,162 crore is 2.6x its FY2008 sales and imparts strong visibility. The brokerage expects Punj Lloyd’s consolidated revenues and profits to grow at a CAGR of 30.5 per cent and 44.1 per cent respectively over FY2008-10E.
At the market price the stock trades at 16.6x and 12.5x its FY2009E and FY2010E fully diluted EPS respectively.
thanks : economictimes.indiatimes.com
Search Stock Exchange News & Tips
Custom Search
Subscribe to:
Post Comments (Atom)
LinkWithin
Popular Posts
-
Bank of America is trying to figure out the regulatory barriers in doing business with India's largest private company Reliance Industri... -
SBI Bonds 2011 is going to list on the Exchanges effective from Wednesday, March 23, 2011 in the list of "F GROUP". SBI Bonds Seri...
-
Mumbai: Netherlands-based Rabobank Nederland announced on Friday that it had received permission from the Reserve Bank of India (RBI) to s...
-
Erasing its opening session gains, the Bombay Stock Exchange benchmark lost over 80 points during the pre-close session on Tuesday due to pr...
-
In what comes as a major setback to Infosys Technologies , board member TV Mohandas Pai has resigned, the company said in its press release ... -
The key benchmark indices surged, snapping four days' losses as world stocks rose and as a slide in crude oil prices from 2-1/2-year pea...
-
The 50-share Nifty index slipped to its 2-month low on Thursday, breaking key technical support levels of 5150 on weak global cues. "De...
-
Indian stock markets continued to trade marginally in the red in the afternoon trading session on Thursday. At 2.30 pm, the Nifty stood ...
-
Rajeev Chandrasekhar, Member of Parliament - Rajya Sabha tells exclusively to CNBC-TV18 that he is ‘underwhelmed by the new draft telecom p...
-
Finance Minister Pranab Mukherjee today presented Union Budget 2012 , the 81st Budget in India's history. Individually, this is Mukher...
No comments:
Post a Comment