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Buy Bartronics India, target of Rs 95: Sunidhi Securities

Posted on: April 1st, 2009 and is filed under Brokerage Recommendations.

Sunidhi Securities & Finance has recommended a buy rating on Bartronics India with a target price of Rs 95 in its April 1, 2009 research report. “BIL has bagged the prestigious project “AapKe Dwar” project from the Municipal Corporation of Delhi.

The project envisages setting up and running 2000 G2C kiosks in Delhi. The project is on a Build-Operate-Transfer Model for a period of nine years. The Company expects minimum revenue of Rs 5000 crore over the project period. BIL has recently been awarded prestigious contract worth over Rs 400 crore, for providing Smart Cards by the Employees
State Insurance Corporation. We recommend BUY with a target price of Rs 95 in the medium term,” says Sunidhi Securities & Finance’s research report.

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