Long Term Buy Call For Lanco Infratech

Long Term Buy Call For Lanco InfratechTechnical analyst Ashish Kukreja of Phinnacle Wealth Managers Pvt Ltd has maintained 'buy' rating on Lanco Infratech Limited stock with a target of Rs 60.

According to analyst, the stock can achieve the said target in a period of one year.

The stock of the company, on January 28, closed at Rs 47.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 74.70 and a low of Rs 42.50 on BSE.

Current EPS & P/E ratio stood at 1.92 and 24.84 respectively.

Lanco Infratech Ltd declared that its directors will meet on February 07, 2011, inter alia, to consider and sanction, the Un-Audited Financial Results for the three month period ended December 2010.

Lanco Infratech stated that a 732 MW gas-based power project established by its division has attained financial closure after it engaged Rs 18.27 billion in debt from six financial institutions.

Lanco Infratech Ltd has decided to borrow funds from Chinese banking institutions, connecting rivals in quest of cheaper funds for equipment deals for facilities in the South Asian nation.

Lanco placed a contract with Dongfang Electric Corp. and is discussing a deal with the banks, which could take around a year to finish, S. C. Manocha, chief executive officer for the company's engineering, procurement and construction business.