CMP: Rs 91 Target Price: Rs 140
Valuations
At the CMP 91, the scrip trades at 5.6x FY2009E EPS of Rs 13.3 & 3.9x its FY2010E EPS of Rs 23.3 We Initiate Coverage on the stock with a Buy recommendation and 12 month Target Price of Rs 140 which translates into annualized returns of 54%.
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