Motilal keeps buy on Nagarjuna; target Rs 190/share.

From: Economic Times (New Delhi, India) | Date: June 5, 2007 | Copyright information

Jun. 5--MUMBAI, India -- Motilal Oswal has maintained a 'Buy' call on Nagarjuna Construction Company Ltd with a target price of Rs 190 per share.

The stock today ended at Rs 167.60 on BSE, down Rs 3.70 or 2.16 percent from Friday's close. The 52-week high for the stock is Rs 324.80 hit on Jun 5, 2006 and low Rs 139 seen on Mar 8, 2007.

According to a report dated May 29, Motilal Oswal expects Nagarjuna Construction's net profit to rise 39.5 percent to Rs 1.9 billion in 2007-08 (April-March) and 37.2 percent in 2008-09 to Rs 2.6 billion.

The company's order backlog as ...

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