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JAIPRAKASH ASSOCIATES LTD
PRICE: RS.27 RECOMMENDATION: BUY
TARGET PRICE: RS.36 FY16E EV/EBITDA: 8.3X
We spoke to the company regarding recent spate of events regarding power
asset sale as well as on business performance. We believe that recent events
like stake sale by promoter group, delays in power asset sale, cancellation
of coal blocks as well as CCI probe is likely to weigh on the stock
performance and stock may continue to underperform the broader markets
despite having upside from the current levels. We revise our estimates to
factor in delays in debt reduction plans for the company as well as declining
order book for the construction division. We thus arrive at a revised price
target of Rs 36 (Rs 73 earlier) on FY16 estimates.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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JAIPRAKASH ASSOCIATES LTD
PRICE: RS.27 RECOMMENDATION: BUY
TARGET PRICE: RS.36 FY16E EV/EBITDA: 8.3X
We spoke to the company regarding recent spate of events regarding power
asset sale as well as on business performance. We believe that recent events
like stake sale by promoter group, delays in power asset sale, cancellation
of coal blocks as well as CCI probe is likely to weigh on the stock
performance and stock may continue to underperform the broader markets
despite having upside from the current levels. We revise our estimates to
factor in delays in debt reduction plans for the company as well as declining
order book for the construction division. We thus arrive at a revised price
target of Rs 36 (Rs 73 earlier) on FY16 estimates.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
LINK
http://www.kotaksecurities.com/pdf/dmb/MorningInsight29092014vp.pdf
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