Quotes with Resistance & Support
Market Information

Buy Nagarjuna Construction, target of Rs 151: Motilal Oswal

Posted on: June 2nd, 2009 and is filed under Brokerage Recommendations.

Motilal Oswal has maintained its buy rating on Nagarjuna Construction Company with a target price of Rs 151 in its May 29, 2009 research report.

“Nagarjuna Construction’s revenues for 4QFY09 stood at Rs 11 billion (-12.4%YoY, vs estimate of Rs 14.3 billion) and net profit of Rs 382 million (-27.4%YoY, vs estimate of Rs 560 million). While execution was impacted due to revenue reversal of Rs 1.2 billion in Bharat Oman refinery project, delays in few other projects coupled with losses in road projects losses impacted profitability for the quarter. Consolidated FY09 profits stand at Rs 1.8 billion (up 8.3%) and include Rs 182 million of profits from overseas contracting companies.”

“We have revised our standalone earnings downward by 4% for FY10 and 5% for FY11. We now expect NCC to report standalone EPS of Rs 8.8/sh in FY10 (up 31% YoY) and Rs 10.6/share in FY11 (up 21% YoY). We maintain Buy, with price target of Rs 151/share,” says Motilal Oswal’s research report.
source: Moneycontrol

Tags: , , , , , , , ,

Similar Posts:


+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

HI SIR, Bought MGL 1120 call 26th oct @45 hold or sell please advise...view more »
Status: Awaiting reply

Market Stats

Search Our Archives

Latest Investment Idea

Recent Comments