In its latest research report, Nirmal Bang, an equity research firm, has maintained ‘Buy’ rating on Kalindee Rail Nirman Engineers stock, which will give good returns within 4-5 trading session.

The report further stated that, if the counter is successful to breach 117, then it will create a huge breakout.

Nirmal Bang Research has advised its clients to hold the scrip with a target price of Rs 125-137.

In addition, the firm has suggested a support level for the scrip between Rs 91-92.

Shares of the company, on Monday (April 20), closed at Rs 109.65 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 11.02 and 10.03 respectively. The share price has seen a 52-week high of Rs 300 and a low of Rs 82.20 on BSE.

On March 30, Kalindee Rail announced with reference to earlier declaration dated February 10, 2009 regarding Outcome of Board Meeting, which it has been decided to assemble the meeting of company’s board on March 30, 2009, inter alia, to consider and finalize the terms and conditions of GDRs including pricing thereof.

To settle the terms and conditions of convertible warrants comprising names of proposed allottees and pricing thereof in terms of amended SEBI Guidelines.

To finalize the date and venue of Extra Ordinary General Meeting to be held for aforesaid purpose.

To consider and if thought fit, approve buy back of FCCB.

The main activities of the company include installation and commission signaling and telecommunication projects and implementation of gauge conversion projects for Indian Railways.

It runs in two sections: Construction Contract and Supply Contract.

The customers include Rail Vikas Nigam Ltd, Indian Railways and Delhi Metro Rail Corporation.

To meet up increasing challenges, KALINDEE is already taking part in a large number of works and has further broadened into Ballasted and Ballast-less Railway Track , Access Control Systems for Metro Rail, Roads, Buildings and Bridges.

Kalindee has also developed links with internationally reputed organizations to provide the latest state of the art technology and construction methods.