Buy Unitech, target Rs 432: Prime Broking

Prime Broking has maintained buy rating on Unitech with target price of Rs 432 in its April 07, 2008 research report. "Unitech’s NAV based on our estimates stands at Rs432. At CMP of Rs264, the stock trades at a steep discount to our NAV and 9.1x our FY10E FDEPS of Rs29.0.

<<Unitech Prime 7 Apr 08.pdf>> Our estimates are fairly conservative with regards to lease rentals and realizations of commercial, retail as well as hotel properties. Unitech's large landbank, execution capabilities and project structuring augur well for its success within the high growth Indian real estate sector. We thus initiate coverage on Unitech with a 'strong buy' with a potential upside of 64%." according to Prime Broking report.

J K Tyre & Industries Ltd Target Rs.145/-

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