30 July, 2014 20:40 IST
News
`Buy` Sadbhav Engineering; target Rs 157: Angel Broking
Source: IRIS Exclusive (09-MAR-12)
Comments  |  Post Comment

Angel Broking has maintained `Buy` on Sadbhav Engineering with a price target of Rs 157 in its report dated March 09, 2012. The broking house gave the following rationale:

Sadbhav Engineering (SEL) has been declared the lowest bidder for four laning of Gomati ka Chauraha -Udaipur section of NH-8 in Rajasthan.

The project has been awarded by NHAI under NHDP Phase IV on DBFOT basis. The estimated  total cost of development of the said project is Rs 12.8 billion. The concession period of the project is 27 years from the appointed date. We believe this is positive for the company, as SEL had not won any major road project since October 2010.

At current levels, the stock is trading at valuations of 12.4x FY2013E earnings and 1.8x FY2013E P/BV on standalone basis.  Based on a target P/E multiple of 9x and valuing the company`s BOT arm on DCF basis, our SOTP-based target price works out to Rs 157. Hence, we maintain our Buy rating on the stock.

Click here to view full report

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.



Sadbhav Engineering Limited   (Q,N,C,F)*


Live News
Hospira Q2 profit more than doubles - 30-Jul-2014 19:56
Sequenom swings to quarterly profit - 30-Jul-2014 19:50
New York Times Q2 earnings halve - 30-Jul-2014 19:37
Overstock.com Q2 profit halves, results miss estimates - 30-Jul-2014 19:33
Ecolab Q2 earnings surge, beat estimates - 30-Jul-2014 19:27
Sangamo reports smaller-than-expected loss in Q2 - 30-Jul-2014 19:26
R.R. Donnelley Q2 profit falls, but non-GAAP EPS beats - 30-Jul-2014 19:16
Green Plains Q2 profit jumps over five-fold - 30-Jul-2014 19:15
Level 3 Communications swings to quarterly profit - 30-Jul-2014 19:05
Sagent Pharma Q2 earnings plummet, but beat Street estimates - 30-Jul-2014 18:57
Corporate Executive Board swings to quarterly loss - 30-Jul-2014 18:41
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   v9k5pk into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer