ETMarkets.com|Updated: Aug 21, 2018, 03.18 PM ISTThe current market price of GMR Infrastructure is Rs 19.75.Edelweiss Financial Services has a buy call on GMR Infrastructure with a target price of Rs 24.The current market price of GMR Infrastructure is Rs 19.75.Time period given by the brokerage is one year when GMR Infrastructure price can reach the defined target.
Outlook and valuations of the brokerage: Attractive assets; maintain 'BUY'.
Improving operations of power assets and financial restructuring along with favourable policy/regulatory actions are boosting GMRs cash flow.
We reiterate that GMR is the most exciting play on the fast-growing Indian airport sector (GMR Infrastructure -Taking wings) and its airport vertical is set for significant value generation, riding greater clarity in regulatory framework.
Post IND-AS 115 adoption, the companys revenue has been adjusted for power purchase cost w.e.f.
Q1FY19; hence, we have revised down FY19/20E revenue of the energy trading business (no impact on earnings).
We maintain 'BUY/SO' with SOTP-based target price of Rs 24.Read this article inHindiCommenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com.
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