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Jain Irrigation’s management refutes news item ‘setting of plant in Africa’
Jain Irrigation Systems (JISL) has refuted news about setting of plant in Africa, given that
the current market opportunity does not justify economics of such a plan. At the CMP of
`223, the stock is trading at 18.5x FY2012E EPS of `12.1. We maintain our Neutral view
on the stock.
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