Saturday, May 31, 2008

Stock Ideas: Rolta India

Prabhudas Lilladher has maintained its buy rating on Rolta India with a target price of Rs 437 in its May 27, 2008 research report. "The company management has indicated there is a huge opportunity for it in terms of airport redevelopment, 3D city mapping and work related to power distribution companies (discoms). Rolta is already involved with 26 airport projects across the country. Mapping a single city would be a Rs 1.5-Rs 2.0 billion project. Rolta has hands on experience in this as it has done 3D city mapping for Dubai. We also understand that Rolta is working on nine projects for power distribution companies."
"We expect Rolta to report 46.30% and 35.2% revenue growth in FY09 and FY10 respectively. We expect its earnings to grow by 34.2% and 48.6% during the same period. We maintain BUY rating on the stock with a target price of Rs 437 (14xFY10E earnings)," says Lilladher's research report.

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