Buy Zylog Systems With Traget Of Rs 430

Buy Zylog Systems With Traget Of Rs 430Stock market analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Zylog Systems Limited stock with a target of Rs 430.

The analyst said that the stock can be purchased with a stop loss of Rs 385.

The stock of the company, on December 27, closed at Rs 403.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 612 and a low of Rs 276.80 on BSE.

Current EPS & P/E ratio stood at 73.21 and 5.57 respectively.

Zylog Systems Ltd is in search of acquirements in the United States of about Rs 450 crore in order to reinforce its attendance in the region.

Mr. S P Srihari, chief financial officer, Zylog Systems Ltd, stated that around 8 firms were on Zylog's radar.

These firms are operating in the high-margin sections including pharmaceutical, healthcare, Banking, Financial Services and Insurance (BFSI) and SAP services.

Zylog would settle on the blueprint by third quarter of the existing financial year.

"At present, 42 per cent of our revenue is from the US, but we want to strengthen our operations in certain practices where we still need to fill need gaps," he said.

Moreover, the company is also eyeing to hire an auditing firm with which it has implemented many of its acquisition operations, for legalization and due diligence.

It may be noted that Zylog Systems bagged nod approval from its stockholders to lift up approximately Rs 400 crore through a variety of options comprising QIP, FCCB, ADRs and GDRs in the month of October.