Tantia Construction, Buy
CMP: Rs 131 Target Price: Rs 157
Valuations
Tantia is sitting on a comfortable order book, which is 6.5x its FY2007
revenues and diversified in niche areas. At the CMP 131, the scrip
trades at 10.7x FY2009E diluted EPS of Rs 12.2 and 7.5x FY2010E diluted EPS of Rs 17.5. We reiterate a Buy recommendation and 12 month Target Price of Rs 157 which translates into annualized returns of 20%.
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