Buy Nagarjuna Construction For Target Rs 164

Buy Nagarjuna Construction For Target Rs 164Technical Analyst Anil Singhvi has maintained 'buy' rating on Nagarjuna Construction Company Ltd stock to achieve an intraday target of Rs 164.

According to Singhvi, the investors can buy the stock with stop loss of Rs 152.

The shares of the company, on May 25, closed at Rs 154.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 195 and a low of Rs 116.50 on BSE.

Current EPS & P/E ratio stood at 7.14 and 22.60 respectively.

Nagarjuna Construction Company has recorded 2.68 times increase in net profit for the three month period ended March 31.

The company's net profit during the period was Rs 1,026.18 million as against Rs 382.09 million during the corresponding quarter of 2009.

Total income during the period under review surged 38.60% to Rs 15,239.53 million for the quarter ended March 2010 as against Rs 10,995.29 million in March 2009.

As on March, 2010, Nagarjuna Construction's order book stood at Rs 153.70 billion.

For the financial year ended March 2010, the company recorded a consolidated net profit of Rs 286 crore, which was up by 54.59%, over the same year-ago period.

Moreover, the company's directors have announced a dividend of Rs 1.30 a share for the fiscal ended 2009-10.