irb infrastructure (emkay) New project wins add little value & boosts construction visibility

Preferred bidder for Ahmedabad-Vadodara; Premium outgo of Rs 3.1bn seems on the higher side; E&C order backlog to get significant boost -backlog to jump to Rs 126bn; Maintain Buy with a target price of Rs 280 per share
Date Rating Target Price Recommendation Price Broker house
18 Apr 2011 buy 280 214 emkay Report

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