Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Noida Toll Bridge Company to achieve an intraday target of Rs 55.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 43.

Shares of the company, on Friday (June 12), closed at Rs 46.75 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 50.45 and a low of Rs 16.05 on BSE. Current EPS and P/E of the stock stood at 1.81 & 25.99 respectively.

Mr. Gujral also said that the stock of the company is ready to hit a new 52-week high in today’s session. So traders are suggested to buy the stock.

For the three month period ended March 31, 2009, the company has posted a growth of 59.09% in its net profit, which stood at Rs 10.5 crore as compared to Rs 6.6 crore during the same period last year.

For FY09, the company’s revenues increased by 19.3% to Rs 79.82 crore as against Rs 66.89 crore and PAT stood at Rs 33.5 crore, up 19.7%, from Rs 27.9 crore. Operating profit margin was 73.26% versus 74.4%. EPS (earning per share) came in at Rs 1.80 as against Rs 1.50.

Revenues increased because of surge in traffic and toll revenue. OPM Maintained --Employee costs increased 55% to Rs 10.3 crore as against Rs 5.5 crore

The company’s other income declined to Rs 1.13 crore as against Rs 5.5 crore. The depreciation costs have reduced by 44% to Rs 4.8 crore.

Interests costs of the company remained at their previous level at Rs 14.9 crore as against Rs 14.86 crore. Tax costs climbed up by 67% to Rs 6.3 crore versus Rs 3.7 crore.

A big part of other income came after the completion of the scheme of amalgamation (Amalgamation was with its wholly owned subsidiary, DND Flyway Limited in 2007).