Price : Rs 29 Target Price : Rs 45
Re-listing gains
Ballarpur Industries (BILT) is expected to get re-listed on 31st March 2008 at theoretical price of Rs 29 per share after the successful completion of its restructuring, buyback and stock split exercise. We expect that at given price, the stock offers attractive upside considering the aggressive growth plans of the company and favourable industry scenario.
We expect company to post an EPS of Rs 3.9, Rs 4.5 and Rs 5.5 in FY08E-10E. At given
price the stock will be available at 7.5x, 6.5x and 5.3x FY08E-10E, respectively.
We reiterate BUY recommendation on the stock with a price target of Rs 45, based on 10x FY09E EPS
by: KUKU-MK
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