Buy Navkar Corporation, target Rs 248: Reliance Securities

Reliance Securities maintains a buy on Navkar Corporation with a 12-month target price of Rs 248.

Navkar Terminals Ltd, a wholly owned subsidiary of the company, recently received a contract for operation and management of KRIL's (Kribhco Infrastructure Ltd) container freight station/ICD and handling of container trains at Hazira Terminal, Gujarat.

Around 9 per cent of the JNPT traffic goes to North and Middle Gujarat. As per our understanding, with a strong presence in JNPT accompanied with lower pricing because of the rail connectivity and providing a complete package to its clients, Navkar will be able to capture this market of JNPT.