• Dhaval Parikh

    Buy the stock @ current market price of 580 it could go all the way to 688 levels..it will zoom above 620 levels..watchout for the stock for short term

  • Dhaval Parikh

    Buy CESC, target Rs 723: Angel Broking

    Angel Broking has maintained buy rating on CESC with target price of Rs 723 with 12 month prespective, in its December 01, 2007 report. “We have valued the company using the sum-of-the-parts (SOTP) methodology. Adjusting for the value of its non-utilities business, CESC’s core Power business trades at an attractive 2.1x FY2009E BV, which is at a discount to its peers. Going forward, we expect this valuation gap to narrow and have valued the Power business at Rs566 per share, that is, 2.5x FY2009E BV. Notably the company is also about to raise another Rs 500-600cr through a likely QIP soon, which would be Book Value accretive. The Retail business has been valued at Rs 121 per share while the Real Estate business at Rs 36 per share. We Initiate Coverage on CESC, with a Buy recommendation and 12-month Target Price of Rs 723. Regulatory uncertainties and delay in the execution of projects are the key risks to our target price,” according to Angel Broking report.

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