Buy Gujarat NRE Coke, target of Rs 37: ULJK Securities
ULJK Securities has recommended a buy rating on Gujarat NRE Coke with a target price of Rs 37 in its March 20. 2009 research report.
“Gujarat NRE Coke Ltd (GNCL) is the largest independent producer of metallurgical coke in India, having a coke manufacturing capacity of 1 Mtpa, which is getting increased to 1.25 Mtpa by March 2009. It is also the only Indian company to have acquired captive coking coal mines outside India. GNCL has already started the mining in Australian mines and is expected to produce around 1 million MT of coking coal for FY09E and slowly scale up to over 7 million MT by 2013E.”
“We have valued Gujarat NRE Coke on the EV/EBITDA based methodology.
The stock is presently trading at an EV of 2.4 (x) FY10E EBITDA. We have given a target EV of 3.5 (x) FY10E EBITDA and recommend a buy of Gujarat NRE Coke with a target price of Rs 37,” says ULJK Securities’ report.
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
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 July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis