Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
04 June, 2015 03:04 IST
`Buy` Sadbhav Engineering; target Rs 157: Angel Broking
Source: IRIS Exclusive | 09 Mar, 2012, 01.04PM
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)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
RBI lifts ban on FIIs/ RFPIs for investing in Axis Bank - 03-Jun-2015 22:01
PNB slashes interest rates on domestic term deposits - 03-Jun-2015 17:45
GIFT allots 5 lakh sq ft space to Reliance Capital - 03-Jun-2015 17:40
Cipla gets US FDA approval for paediatric Lopinavir and ritonavir oral pellets - 03-Jun-2015 16:23
Maruti Suzuki launches diesel variant for Celerio model - 03-Jun-2015 15:59
GPT Infra bags orders worth Rs 625 mn - 03-Jun-2015 15:41
Omkar Speciality files patent application for precursor of Hepatitis C drug - 03-Jun-2015 15:41
Revenue to grow 10% in FY16 in case of poor rainfall: Dhanuka Agritech MD - 03-Jun-2015 15:34
GE Shipping takes delivery of new vessel - 03-Jun-2015 14:44
Essar Ports, Port of Antwerp International terminate strategic alliance - 03-Jun-2015 13:49
Tata Teleservices subsidiary mRUPEE and Manappuram Finance announce tie up - 03-Jun-2015 13:46
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer