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Jyoti Structures bags orders worth `328cr
Jyoti Structures has secured orders worth `328cr from PGCIL, which includes 765kV substations
(`254cr) and 400kV transmission lines (`74cr). Despite sluggishness in the power
segment, the company has been able to procure orders and maintain its average quarterly
booking run rate of (`500cr-600cr). Consequently, the long growth visibility remains fairly
transparent (order book/sales of 1.7x). The stock trades at attractive valuations of 5.7x and
4.7x, FY2012E and FY2013E EPS, respectively. The stock has also made an impressive
recovery of 11.3% vs. Sensex gain of 5.6%, since the steep market drift in the previous
month. We continue to maintain our Buy view on the stock with a target price of `100.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Jyoti Structures bags orders worth `328cr
Jyoti Structures has secured orders worth `328cr from PGCIL, which includes 765kV substations
(`254cr) and 400kV transmission lines (`74cr). Despite sluggishness in the power
segment, the company has been able to procure orders and maintain its average quarterly
booking run rate of (`500cr-600cr). Consequently, the long growth visibility remains fairly
transparent (order book/sales of 1.7x). The stock trades at attractive valuations of 5.7x and
4.7x, FY2012E and FY2013E EPS, respectively. The stock has also made an impressive
recovery of 11.3% vs. Sensex gain of 5.6%, since the steep market drift in the previous
month. We continue to maintain our Buy view on the stock with a target price of `100.
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