Buy Unitech, target of Rs 110: KRChoksey
KRChoksey has recommended a buy rating on Unitech, with price target of Rs 110, in its report dated June 29, 2009.
“The successful QIP’s has brought positive triggers in the stock. We expect Unitech would be able to launch 35 million sq ft in next 2 years. The company plans to launch 40 projects at aggressive price points on which they have received a good response. We expect Unitech to reduce its debt by 35% to Rs 5,070 crore by the end of FY10 from the existing debt of Rs 7,800 crore., which will bring down its D/E from 1.6X to 0.5x. Based on our funding analysis, we believe that the funds raised from QIPs and other initiatives (asset sale, Telenor deal, warrants to be issued to promoters, etc) would be sufficient to fund its planned projects. We thus belive that the funding woes for the company are more or less over in short to mid term. At CMP of Rs.84 we maintain our ‘BUY’ recommendation on the stock with a target price of Rs 110, which gives it an upside potential of 29.4%. At the CMP of Rs 84, the stock is trading at 20.3x FY10E earnings of Rs 4.2,” says KRChoksey’s report.
source: Moneycontrol
Tags: brokerage tips and calls, buy or sell unitech, hold unitech, NSE Tips, stock market india tips
Similar Posts:
Recent Posts
Latest Query
- by Shailesh
Market Stats
- Sensex17164.99-1.63[-0.01%]
- Nifty5128.90-8.10[-0.16%]
- Dow Jones10615.47-9.22[-0.09%]
- Nasdaq2360.03-7.63[-0.32%]
- Dow Futures10609.00-26.00[-0.24%]
- Nikkei 22510751.98+0.72[+0.01%]
- Hang Seng21079.10-130.64[-0.62%]
- Straits Times2874.33-7.03[-0.24%]
- Shanghai2976.94-36.47[-1.21%]
- FTSE 1005616.41-9.24[-0.16%]
- CAC 403911.55-15.85[-0.40%]
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on December 25th, 2009 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on December 25th, 2009 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
Recent Comments
- nithin2009 cb...i bought 1000 maghmani organic@15...In Intraday calls for 15-03-10
- sailaja Dear CB, I have taken TWL @ 470. can...In Intraday calls for 15-03-10
- Ajai Hi cb what will be the openinig of nif...In Intraday calls for 15-03-10
- Kartik Hi LP, its facing some resistance at 1...In Intraday calls for 15-03-10
- LP Hi Kartik, your view on APAR IND...In Intraday calls for 15-03-10
- Kartik Hi Aashish jain, reliance if manages t...In Intraday calls for 15-03-10
- DS Dear Kartik, So do you think the ON...In Intraday calls for 15-03-10
- LP Hi Kartik, your view on APAR IND...In Intraday calls for 15-03-10
- LP Hi DS, no Markets are Open Tomorro...In Intraday calls for 15-03-10
- Aashish jain hi kartik/ CB what you think about ...In Intraday calls for 15-03-10
- Kartik Hi bala, exit from gmr on rise for now...In Intraday calls for 15-03-10
- divyesh Hi Ds it is difficult to predict as ma...In Intraday calls for 15-03-10
