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Buy Rites, target price Rs 320: Mandar Jamsandekar

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Mandar Jamsandekar recommended to keep a stop loss at Rs 245.ETMarkets.com|Updated: Oct 11, 2019, 12.08 PM ISTRites key products/revenue segments include consultancy income which contributed Rs 760.36 crore to sales value.Mandar Jamsandekar of Precision Technicals has a buy call on Rites with a target price of Rs 320.

The current market price of Rites is Rs 282.45.

Mandar Jamsandekar recommended to keep a stop loss at Rs 245. Rites key products/revenue segments include consultancy income which contributed Rs 760.36 crore to sales value (38.61 per cent of total sales), turnkey project which contributed Rs 567.07 crore to sales value (28.80 per cent of total sales), other services which contributed Rs 331.18 crore to sales value (16.81 per cent of total sales), sale of products which contributed Rs 206.75 crore to sales value (10.50 per cent of total sales) and lease rentals which contributed Rs 103.61 crore to sales value (5.26 per cent of total sales) for the year ending 31 March, 2019.

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 537.65 crore, down 27.07 per cent from last quarter sales of Rs 737.26 crore and up 61.79 per cent from last year same quarter sales of Rs 332.32 crore.

The company has reported a net profit after tax of Rs 101.18 crore in latest quarter.

The company’s top management includes Pramod Kumar Anand, Rajendra N Goyal, A P Dwivedi, Alok Kumar Tewari, Gopi Sureshkumar Varadarajan, Mukesh Rathore, Rajeev Mehrotra and Geethakumary.

The company has J C Bhalla - Co.

as its auditor.

As on 14-08-2019, the company has a total of 250,000,000 shares outstanding. Buy JSPL, target Rs 150: Mandar JamsandekarBuy Indigo, target price Rs 1,980: Mandar JamsandekarBuy Maruti Suzuki India, target Rs 7,000: Mandar JamsandekarSell IndusInd Bank, target price Rs 1,040: Mandar JamsandekarBuy KPIT Technologies, target Rs 250: Mandar JamsandekarCommenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com - ETMarkets.com.

Please consult your financial advisor before taking any position in the stock/s mentioned.




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