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Hold Voltamp Trans, target of Rs 403: KRChoksey

This article was posted on Feb 9, 2009 and is filed under Stock Research

KRChoksey Research has recommended a hold rating on Voltamp Transformers with a target of Rs 403 in its February 4, 2009 research report. “VTL net sales gone down by 4.5% to Rs 136.4 crore in Q3FY09 as against Rs 142.9 crore during Q3FY08. PAT gone up by 50.0% (YoY) to Rs 34.1 crore. On back of strong working capital management, huge investment in power sector, healthy order-book and experienced management, we recommend to HOLD the stock with the target price of Rs 403,” says KRChoksey’s research report.

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