Buy Jindal Saw, target of Rs 476: Sharekhan
Sharekhan has maintained its buy rating on Jindal Saw with a price target of Rs 476 in its March 31, 2009 research report. “Jindal Saw Ltd’s (JSL) Q4CY2008 numbers are ahead of our expectations on the back of an exceptionally strong top line. With the hive-off of the US division, the results are not strictly comparable with the same quarter of the last year.
The revenues declined by 3.9% year on year (yoy) but marked a growth of 4.2% quarter on quarter (qoq) to Rs 1,548.1 crore. For the full year, the company reported revenues of Rs 5,003.3 crore and profits of Rs 342.3 crore on a stand-alone basis.”
“On a consolidated level, the company has reported revenues of Rs 5,356.7 crore and net profits of Rs 326.3 crore, a little lower than the stand-alone numbers, mainly on account of losses of about Rs 15 crore incurred in Jindal Waterways. We maintain our ‘Buy’ recommendation on the stock with a revised price target of Rs 476 (6x CY2009E earnings),” says Sharekhan’s research report.
Tags: buy, jindal saw, sharekhan
Similar Posts:
Latest Query
- by Sam
Market Stats
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
