Accumulate NIIT Technologies: Parag Parikh
Parag Parikh Financial Advisory Services has recommended an accumulate rating on NIIT Technologies in its May 27, 2009 report.
“NIIT Technologies reported a subdued Q4 with consolidated revenues down 9% from Q3 at Rs 2270 million from Rs 2485 million. A Rs 221 million loss on account of crystallization of effective hedges was realized this quarter. Operating margins for the quarter remain flat at 18% (incl. hedging losses) & 25% (excl. hedging losses). The company reported a 57% growth in Q4 PAT at Rs 263 million recovering from a steep drop in Q3FY09 at Rs 167 million. In Q4 the impact on the topline is registered due to three main factors, Currency, Hedging & Volume; which contributed a negative 3%, 1% & 4% respectively.”
“One outlook that looks positive for the company would be, as rupee gets stronger the extent of forex related losses reduces. As of FY09, the company is available at 5.4x, we recommend to ‘ACCUMULATE’ at 5x at Rs 95,” says Parag Parikh Financial Advisory Services’ research report.
source: Moneycontrol
Tags: best bets, best buys now, brokerage calls, brokerage tips, buy rating, buy stocks, hot stocks, niit, Parag Parikh
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