Apply for ARSS Infra IPO for target of Rs 525-575: Swastika
Swastika Investmart has recommended investors to apply for ARSS Infrastructure IPO and expect a price target of Rs 525-575 in the medium term.
By ET Bureau |
MUMBAI: Swastika Investmart has recommended investors to apply for ARSS Infrastructure IPO and expect a price target of Rs 525-575 in the medium term.
"ARSS Infrastructure's IPO is aimed at funding its capital requirements for various joint ventures and also its future working capital requirements. The company has developed expertise in railway construction projects, which include earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails and linking of tracks.
It has successfully completed over 200 km of rail line and over 300 km of roads and highways. Considering the long-term infrastructure story in the country to continue and ARSS's significant experience in this field, the company is expected to have its own share of projects procuring in the future.
Hence, we recommend applying for the issue with a price target of Rs 525-575 in the medium term. Listing gains on the stock can also be seen," the report said.
"ARSS Infrastructure's IPO is aimed at funding its capital requirements for various joint ventures and also its future working capital requirements. The company has developed expertise in railway construction projects, which include earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails and linking of tracks.
It has successfully completed over 200 km of rail line and over 300 km of roads and highways. Considering the long-term infrastructure story in the country to continue and ARSS's significant experience in this field, the company is expected to have its own share of projects procuring in the future.
Hence, we recommend applying for the issue with a price target of Rs 525-575 in the medium term. Listing gains on the stock can also be seen," the report said.
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