Gayatri Projects is likeable at current levels; price target of 600: Satish Betadpur

Satish Betadpur, CFA, Global Research Director in a chat with ET Now gives his take on Gayatri Projects.

Lets start off with your first buzzing bet...

First off we really like Gayatri Projects in the midcap space. They are in infrastructure out of Andhra Pradesh. They are a big player in road, transportation and irrigation and are getting involved in power plant. They have an ultra mega power plant at Krishnapatnam 30-20 megawatts for which they have gotten Sembcorp from Singapore as one of their partners.

Once the power plant comes on stream their earnings will be much more stable and on top of with they have very high revenue growth coming from the road sectors. So all in all good infrastructure play and we are getting a valuation of sub 10 times PE for 2011 with very good management and good growth prospects so we like Gayatri Projects at these levels. Our price target for the stock is about Rs.600.