Buy Adani Enterprises For Target Rs 455
Stock market analysts are of the view that investors can buy Adani Enterprises Ltd stock to achieve an intraday target of Rs 449.
According to them, investors can buy the stock above Rs 446 with a strict stop loss of Rs 442.
If the stock markets remain on the positive path then the stock price will hit a target above Rs 455.
Shares of the company, on Wednesday (Jan 27), closed at Rs 444.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 518 and a low of Rs 119 on BSE.
Current EPS & P/E ratio stood at 6.65 and 66.78 respectively.
Adani Enterprises announced a phenomenon drop in its standalone net profit for the three month period ended December 2009.
During the quarter, Adani's profit dropped 45.50% to Rs 304.90 million as against Rs 559.40 million during the same quarter previous year.
Net sales for the three month period ended December 2009 fell 11.43% to Rs 28,011 million, whereas total income during the same quarter declined 11.27% to Rs 28,082.60 million.
The company recorded an EPS of Rs 0.61 per share during the period under review, recording 73.13% fall over last year period.