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Buy Nagarjuna Constructions, target 
222: India Infoline
By siliconindia
|
Tuesday, 27 April 2010, 18:55 IST
Bangalore: India Infoline is bullish on Nagarjuna Constructions and has recommended a buy rating on the stock with a target price of 
222. According to the brokerage, on Friday, the stock overcame crucial resistance levels and closed above it. As long as it stays above Rs180, the medium term outlook appears bullish.
Nagarjuna Construction Company is an India-based company engaged in construction/project activities. It operates in nine divisions: building and housing, transportation, electrical, water and environment, irrigation, international, power, metals, and oil and gas. The building and housing division is engaged in construction of housing projects, industrial and commercial buildings, information technology parks, shopping malls, sports complexes, stadia and hospitals.
The transportation division is engaged in the construction of highways, bridges, including flyovers and elevated corridors, railways, airport terminals, and ports. The electrical division undertakes design, engineering, supply, erection, testing and commissioning of extra high voltage (EHV) transmission lines, sub-stations and lines, and distribution systems. The water and environment division undertakes water supply projects, water treatment plants, underground drainage works and sewerage treatment projects.
India Infoline says, if the current trend sustains, the stock could touch 220 and continued positive divergence with the RSI oscillator points to the likelihood for an upward swing in the stock price. With the recommended target price if the stock is bought at Monday's closing price of 182.80, the percentage of gain would be 16.90.
222. According to the brokerage, on Friday, the stock overcame crucial resistance levels and closed above it. As long as it stays above Rs180, the medium term outlook appears bullish.
Nagarjuna Construction Company is an India-based company engaged in construction/project activities. It operates in nine divisions: building and housing, transportation, electrical, water and environment, irrigation, international, power, metals, and oil and gas. The building and housing division is engaged in construction of housing projects, industrial and commercial buildings, information technology parks, shopping malls, sports complexes, stadia and hospitals.
The transportation division is engaged in the construction of highways, bridges, including flyovers and elevated corridors, railways, airport terminals, and ports. The electrical division undertakes design, engineering, supply, erection, testing and commissioning of extra high voltage (EHV) transmission lines, sub-stations and lines, and distribution systems. The water and environment division undertakes water supply projects, water treatment plants, underground drainage works and sewerage treatment projects.
India Infoline says, if the current trend sustains, the stock could touch 220 and continued positive divergence with the RSI oscillator points to the likelihood for an upward swing in the stock price. With the recommended target price if the stock is bought at Monday's closing price of 182.80, the percentage of gain would be 16.90.