Religare Research has recommended a buy rating on IVRCL Infrastructure and Projects with a target price of Rs 522 in its June 16, 2008 research report. "At the current price of Rs 373, IVRCL’s core business (discounting other businesses at 50%) is trading at 12x one-year-forward earnings. Our DCF value for the core business stands at Rs 398 (which is 20x FY09E earnings), with other ventures valued at Rs 124. This gives us a combined target of Rs 522," says Religare's research report.
Link to the article: http://www.moneycontrol.com/india/news/recommendations/buy-ivrcl-infra,-target-of-rs-522:-religare/343484
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