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Buy Micro Technologies, target of Rs 100: Sunidhi Sec

Posted on: April 8th, 2009 and is filed under Brokerage Recommendations.

Sunidhi Securities & Finance has recommended a buy rating on Micro Technologies with a target price of Rs 100 in the medium term in its April 8, 2009 research report. “During Q3FY09, consolidated sales have gone up by 43% to Rs 77 crore and net profit by 17% to Rs 18.4 crore.

OP & NP margin during this quarter stood at 36.7% and 23.9% respectively against 41.7 and 29% (YoY). During the 9 months of FY09, sales have gone up by 65 per cent to Rs 213 crore whereas net profit has increased by 43 per cent to Rs 38.1 crore. OP & NP margins stood at 38.9 % and 25.5 against 41.5% and 29.5% respectively (Y0Y). We recommend BUY with a target price of Rs 100 in the medium term,” says Sunidhi Securities & Finance’s research report.

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