RS Software Research Report By HDFC Sec

Tagged: HDFC Securities, RS Software

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August 11, 2014 at 11:08 pm #816

Vidhi Khanna
Keymaster

Electronic payments industry has immense potential and RS Software has been able to maintain a long standing relationship with all its clients across geographies. Management is also investing more on improving its sales and marketing division in order to win more clients and diversify globally. RS Software has a strong balance sheet with no debt and good cash and equivalents and also a growth focused strong management. At the current market price of Rs.376.55 the stock is trading at 7.26x FY16E EPS which we believe is attractive considering the immense growth potential and strong fundamentals. Investors could buy the stock at CMP and add on dips between Rs.324‐Rs.337 (6.25x‐6.5xFY16E EPS) for sequential targets of Rs.Rs.440.5 and Rs.544 (8.5x‐10.5xFY16E EPS).

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