reliance infrastructure (JPMorgan) FY11 PAT in-line, balance sheet details awaited

Reliance Infrastructure reported FY11 PAT of Rs15.5bn (up 2% YoY), slightly ahead of est. (Rs15.3bn); Commentary of execution of EPC order backlog, now Rs296bn; Plans to transfer 433MW plants to RPWR have been shelved; Although buyback adjusted Mar-12 SOP PT of Rs825
Date Rating Target Price Recommendation Price Broker house
30 May 2011 neutral 845 (From 825) 558 JPMorgan Report

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