Kantilal Chaganlal Securities recommends 'Buy' on Supreme Infrastructure  at target price Rs 411 against market price Rs 355.2

 Commenting on the investment rationale, broker said, "In Q1FY15, Supreme Infrastructure India revenue has declined by 13.7% to Rs3.81 billion whereas it has reported drastic decline of 52.3% on Q-o-Q basis.

During Q1FY15, the unexecuted order book declined by 12.7% on Y-o-Y basis and it has declined by 6.2% on sequential basis. During the quarter, the company was not able to add any new orders.

We maintain 'BUY' with target price of RS 411/ share with construction business at Rs 341.6 a share (4x P/E on FY15E EPS of Rs 85.4/ share) and the investments in BOT projects is considered at 1X P/BV to value at Rs 69.5 a share."

Shares of the company declined Rs 1.6, or 0.45%, to trade at Rs 356. The total volume of shares traded was 1,005 at the BSE (10.32 a.m., Friday).

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