ABN Amro has recommended a BUY on Texmaco Limited with a price target of Rs 1090.
Key Triggers for the Stock are:
- Entry of private players into containerized freight segment and Indian Railways wagon business. Texmaco’s wagon business accounts for approximately 50% of its revenues.
- New Steel foundry has commenced operations in FY07.
- Unlocking the value of idle land bank and business restructuring viz inorganic growth.
The stock is trading above 200 DMA.