IL&FS Transportation Networks Is A “Strong Buy” By Microsec

IL&FS Transportation Networks (ITNL), a “STRONG BUY”. ITNL, a leading road infrastructure company, with an illustrious parentage (IL&FS), a sharply focused business model and comfortable funding position, is all set to ride benefits emanating from the robust momentum in NHAI road project awards. ITNL has followed a disciplined bidding strategy to maintain its IRR, based on which it has judiciously built a balanced road portfolio comprising a mix of annuity & toll, spread across the breadth of the country. Earlier we have recommended the stock on our ICR report dated 29th June 2012 at a price of INR 182 and since then we have maintain our positive bias on the stock. We see upside momentum of ITNL’s earning for FY15E. Therefore we recommend a “STRONG BUY” with a target price of INR 287.

Download ITNL update report by Microsec