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Buy GIPCL, target of Rs 130: IIFL
Posted on: June 23rd, 2009 and is filed under Brokerage Recommendations.
IIFL has maintained its buy rating on Gujarat Industries Power Co. (GIPCL), with 12-month price target of Rs 130, in its report dated June 23, 2009.
“GIPCL’s proposed 250MW expansion has been delayed, and now the management expects to commission unit-1 in 3QFY10ii as against 1QFY10ii, which is reflected in our forecasts. At CMP, GIPCL is trading at 0.9x FY10ii BV and 10x FY10ii P/E. We maintain ‘BUY’, with 12-month price target of Rs 130,” says IIFL’s research report.
source: Moneycontrol
Tags: best power stock to buy now, buy or sell GIPCL, gujurat industries power, power sector nse bse
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