Buy HCC, target Rs 260: Emkay
Emkay research has maintained buy rating on Hindustan Construction Company HCC with target price of Rs 260 in its January 22, 2008 report. “We believe that the company is on a strong growth trajectory and with more clarity emerging in the real estate business; the company looks to set to unlock value for the shareholders. We value the company on a SoTP based valuation of Rs 260 / share assigning a value of Rs 148 / share to the core construction business (15xFY10E), Rs109 / share to the real estate business and Rs 3/ share for the BOT projects. We maintain our ‘BUY’ recommendation,” says Emkay report.
