Nitin Fire Protection an outperformer: Karvy
Karvy Stock Broking has rated Nitin Fire Protection Industries as an outperformer with a price target of Rs 373 in its June 8, 2009 research report.
“Nitin Fire Protection Industries (NFPIL) operates in two broad business segments: 1) fire protection, safety and security and 2) high pressure cylinders and refueling solutions. During FY09 both the business segment contributed almost equally towards the revenues of the company. However moving forward, we expect the revenues from the cylinder business to increase to 65% by FY11E.”
“We expect the company’s earnings to grow by 25% CAGR over FY09-FY11E. We rate the stock as an Outperformer with price target of Rs 373. We remain positive on the future prospect of the CNG cylinder business because CNG as a fuel is cost effective to the individual user and from the government’s perspective it’s an environmental friendly fuel. Hence we believe CNG cylinder industry would continue to grow even during adverse economic situation,” says Karvy Stock Broking’s research report.
Tags: buy nitin fire, karvy brokerage, nitin fire, NSE Tips, outperformer stocks, short term stocks
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