Buy Lanco Infratech With Stoploss Of Rs 320: Ashwani Gujral

Buy Lanco Infratech With Stoploss Of Rs 320: Ashwani GujralStock market analyst Ashwani Gujral has maintained ‘Buy’ rating on State Bank of India (SBI) for a short term target between Rs 385- Rs 411.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 320.

The shares of the company, on Friday (June 20), closed at Rs 1672.70 on the Bombay Stock Exchange (BSE). The total volume of the shares traded on BSE was 725,791.

Current EPS and P/E of the stock stood at 11.91 & 28.81 respectively. The share price has seen a 52-week high of Rs 449.40 and a low of Rs 83.10 on BSE.

Lanco Infratech said that it has decided to raise Rs 2,500 crore to part-fund its growth plans and for some continuing projects.

Reports said that the majority of the funds will be used to meet up the development plans of the power projects under a range of phases of execution.

The company’s directors have already given their nod to raise Rs 2500 crore via American depository receipts (ADRs), global depository receipts (GDR) and foreign currency convertible bonds (FCCB).

But, the company will shortly seek the shareholders' nod in its extraordinary general meeting, which is scheduled on June 25.

Lanco Infratech Ltd is one of the country’s top business firms, and among the fastest growing.

Lanco Infratech has arms and divisions across a synergistic span of verticals including Construction, Power, EPC, Infrastructure, Property Development, and Renewables.

Lanco Infratech’s projects, functional and in progress, are spread across the country.

A member of the UN Global Compact, Lanco Infratech is recognized for its Good Corporate Governance and Corporate Social Responsibility initiatives led by the Lanco Foundation.