Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Finolex Cables executes agreement to establish a JV with Corning, Inc.
Finolex Cables has executed an agreement with Corning, Inc., USA, to establish a 50/50
equity venture to market select telecommunications products. The venture is expected to be
incorporated later in the year. Corning is the global leader in speciality glass and
ceramics. Details of the agreement, including the size, have not been disclosed as the
company is under a confidentiality agreement. At the CMP, the stock is trading at attractive
valuations of 5.3x its FY2012E EPS and 0.9x its FY2012E BV. We maintain Buy on the stock
with a target price of `82.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Finolex Cables executes agreement to establish a JV with Corning, Inc.
Finolex Cables has executed an agreement with Corning, Inc., USA, to establish a 50/50
equity venture to market select telecommunications products. The venture is expected to be
incorporated later in the year. Corning is the global leader in speciality glass and
ceramics. Details of the agreement, including the size, have not been disclosed as the
company is under a confidentiality agreement. At the CMP, the stock is trading at attractive
valuations of 5.3x its FY2012E EPS and 0.9x its FY2012E BV. We maintain Buy on the stock
with a target price of `82.
No comments:
Post a Comment