26 Feb 2009, 1608 hrs IST, ET Bureau
MUMBAI: Shares of Hindustan Dorr-Oliver stretched gains to Thursday, after the company Wednesday said it received an order worth Rs: 441 crs from uranium Corporation of India. The new order is significant, as the company’s existing order book is roughly Rs 700 crore.
IL&FS Investsmart, earlier this month, initiated coverage on the stock with a ‘buy’ rating and price target of Rs 55, citing healthy order book and business diversification as some of the key reasons. The report was prior to the company winning the order from Uranium Corporation.
“We believe that HDO has all characteristics to graduate to the next league and therefore the concerns reflected in the stock price is unwarranted,” the brokerage said.
At 3:25 pm on Thursday, the stock, which has risen 30% since Wednesday, was at Rs 34, up 7.1%.
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