At the current market price of Rs.164, the stock of MUNDRA PORT & SEZ (MPSEZ) trades at 6.6x book value, 27.3x earnings and 22.1x cash earnings based on FY12E. We feel the stock of MUNDRA PORT & SEZ (MPSEZ) looks attractive if we consider it on SOTP. This is due to its integrated business model coupled with superior infrastructure consisting of multi cargo port, SEZ, Airport, Rail and Road connectivity. Also the industries in the surrounding SEZ would provide steady flow of cargo to the port. This would ensure steady growth in volume of cargo handled at the port by MUNDRA PORT & SEZ (MPSEZ).
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