Motilal Oswal is bullish on Jaiprakash Associates and has recommended buy rating on the stock with a target of Rs 104 in its August 1, 2012 reports.
“Jaiprakash Associates (JPA) reported standalone PAT of INR1.4b for 1QFY13, marginally lower than our estimate of INR1.6b. While EBITDA was in-line at INR7.7b, led by better operating performance of the Cement and EPC divisions, PAT growth was arrested by higher depreciation and dismal performance of the real estate (RE) division.”
