Buy IVRCL Infra below 380

IVRCL continued its splendid performance in Q1FY08 with a growth of over 55% to its topline as well as bottomline. The company als o added over Rs21 billion to its order backlog which currently stands at Rs 95 bn. The company had raised over Rs5.5 bn through the QIP route during FY07 which would help the company meet its funding requirement for various BOT projects and meet the working capital requirement. The Company has also recently successfully launched the IPO of its real estate subsidiary IVR-PUDL and has raised over Rs 7.8 bn from the same. We believe that the company's growth trajectory will continue in future and the pace of order accretion provides added visibility. We recommend a buy for this with a view of 9-12 month with a target price of 510.

Learn the basics: http://knowmarket.blogspot.com/