In its latest research report, Nirmal Bang, an equity research firm said that Core Projects and Technologies Ltd, which has been consolidating in the region of 172-190, can give good returns in the short term.

The report further stated that, if the counter is successful to breach Rs 183 levels, then it will create a huge breakout.

Nirmal Bang has advised investors that the stock of the company is giving an evidence of a strong breakout, so hold it to achieve a target price above Rs 205.

The stock has strong support at Rs 158.

Today (Sep 24), the shares of the company opened at Rs 175 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 9.10 & 19.46 respectively. The share price has seen a 52-week high of Rs 287.80 and a low of Rs 34.10 on BSE.

Credit rating agency, ICRA on Sep 11, has assigned an LA ranking to the Rs 1,800 million, long-standing, fund-based limits of CORE.

The rating replicates the well-built market status of the company as the supplier of software solutions and services to the education business that is backed up by its widespread domain proficiency and broad product collection.

CORE's healthy profitability because of its product-focused plan; reasonable financial leverage and the overall positive viewpoint for the education segment in India and overseas.

The score is, however, restrained by the connected dangers of effectively incorporating the acquired businesses; unconstructive operating cash flows growing out of from high receivable days, though the cash flows have witnessed perfection in FY 2009; and capex needs for entry in the novel sections in India.

Moreover, CORE is also open to economic slump in its major market zones. The threat is largely mitigated, as CORE gains around 71% of its overall income from the education segment that has seen consistent growth in the last 15 years regardless of economic cycles.