Buy Reliance Infrastructure, target Rs 490: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Reliance Infrastructure Ltd. with a target price of Rs 490. The current market price of Reliance Infrastructure Ltd. is Rs 478.25. Time period given by the analyst is Intra Day when Reliance Infrastructure Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 470. Reliance Infrastructure Ltd., incorporated in 1929, is a midcap company with a market cap of Rs 12577.50 crore.

Reliance Infrastructure Ltd. key Products/Revenue Segments include Power Transmission which contributed Rs 7048.94 Crore to Sales Value (80.36 % of Total Sales), Income from EPC,Contracts,& Others which contributed Rs 1578.66 Crore to Sales Value (17.99 % of Total Sales) and Other Operating Revenue which contributed Rs 143.90 Crore to Sales Value (1.64 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Consolidated sales of Rs 7539.81 Crore, up 48.54 % from last quarter Sales of Rs 5076.04 Crore and up 4.88 % from last year same quarter Sales of Rs 7189.21 Crore Company has reported net profit after tax of Rs 297.49 Crore in latest quarter. The company’s top management includes Dr.V K Chaturvedi, Mr.Anil Dhirubhai Ambani, Mr.K Ravikumar, Mr.S S Kohli, Mr.S Seth, Mr.Shiv Prabhat, Mr.V R Galkar, Ms.Ryna Karani. Company has Pathak H D & Associates as its auditoRs As on 30-06-2018, the company has a total of 262,990,000 shares outstanding.