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/ Business News / 2007 / November 2007 / November 15, 2007 PINC Research recommends a buy on HOV Services Ltd |
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PINC Research recommends a buy on HOV Services Ltd ( CMP: Rs. 176 ) with a target price of Rs. 347 on the back of it’s broad based service offerings and mining of recently acquired Lason’s large client pool.
PINC Research recommends a buy on HOV Services Ltd ( CMP: Rs. 176 ) with a target price of Rs. 347 on the back of it's broad based service offerings and mining of recently acquired Lason's large client pool. The investment rational rests on a great degree of visibility due to long term contracts, geographical spread, and seating capacity well poised to deal with increase in demand. The company has reported strong consolidated financial results for the second fiscal quarter ended September 30, 2007. The has been a 686% increase in its consolidated Operating Income for the quarter to Rs. 55.43 crore from Rs. 7.06 crore for the corresponding period last fiscal year. Consolidated Total Income for the quarter climbed 455% to Rs. 2,46.86 crore from Rs. 44.5 crore for the corresponding period last fiscal year. HOV has witnessed an increase of 803% in its consolidated Net Profit to Rs. 39.5 crore from Rs. 4.38 crore for the corresponding period last fiscal year.
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