Buy Tecpro Systems; target of Rs 355: Nirmal Bang - Moneycontrol.com -

Nirmal Bang is bullish on Tecpro Systems and has recommended buy rating on the stock with a target of Rs 355 in its July 1, 2011 research report.

“Tecpro Systems, incorporated in 1990, undertakes turnkey projects in material handling, ash handling, balance of plant (BoP) & engineering, procurement & construction (EPC) contracts. Tecpro started focus on turnkey BoP contracts by leveraging its expertise from coal handling and ash handling business. and bagged its first BOP order from state of chattishgarh in FY10. Currently it is executing three BOP contracts worth of Rs. 2100 crs. Company has entered into the technical collaboration & license agreement with several international companies, which strengthens its technical credentials and also enables it to service the clients with advance technology.”

“According to CRISIL, Investment worth of Rs. 9.5 trillion is expected in core sector like Steel, power, port etc. during 2011-2014. MHE ( Material Handling Equipment ) segment will account for Rs. 468 billion, with majority of investment coming from power sector. Current Order book of company is around Rs 4371 crores, which is 2.2xFY11 revenues.

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