Share India Securities Ltd, a leading knowledge and technology driven stock broker, recommends buying Rama Steel and Tubes Ltd, for a target of Rs 240 in the next 3-6 months.
Rama Steel in its JV – Pir Panchal Construction Pvt Ltd. (PPCPL) – wherein it holds 25% stake – has won orders worth INR 2,880mn for supply and erection of transmission lines for rural electrification. The order has been awarded by Uttarakhand Power Corporation Ltd. and Himachal Pradesh Electricity Board. Orders are stated to be executed in next 24 months.
Share India expect better results from the company in future and FY18E/19E EPS of INR 9.5 and INR 12 respectively. Share India recommends a BUY on the stock with a price target of INR 240 (20x FY19E EPS). The stock is a candidate for re-rating as higher demand leads to better revenue and per unit realization.
About Share India Securities Ltd
Share India Securities Ltd, engaged in the business of equity broking, investing and trading activities for the last 24 years, became 200th SME Company to get listed on BSE SME Platform on 5th October 2017. The Company currently have a network of around 5 sub brokers and 173 Authorised persons registered with it in BSE and 03 sub brokers and 163 Authorized persons in NSE all over India catering to the needs of our clients. The Company currently operates in Uttar Pradesh, New Delhi, Punjab, Haryana, Rajasthan, Andhra Pradesh and Maharashtra. Going forward the Company plans to establish its presence in the western and central region and intend to set up branch offices in major cities. The emphasis is on expanding the scale of their operations as well as growing their network across India.
The company in addition to providing the services as a Depository Participant, Research Analyst, Mutual Fund Advisor/Distributor, has also filed an application with Securities and Exchange Board of India for the registration of Company as a Portfolio Manager.
The Company has received many Awards and Recognitions some of them are, an award for appreciation for our contribution in the 1 crores Demat accounts opened by CDSL. Company has been accredited with certificate for being among the top performing members for the year 2015-16 in equity and equity derivatives segment of the National Stock Exchange of India Limited. Company has been accredited with certificate for being among the top performing members for the year 2015-16 in Currency derivative segment of the National Stock Exchange of India Limited.
For more information, please contact: Mr. Aryan Prem Rana, AARYANA MATASCO email@example.com