BRICS PCG: 'Buy' Micro Technologies

Brics PCG recommends a 'Buy' on Micro Technologies. The report states that as a part of its efforts towards better corporate governance, the company has constituted an advisory board comprising internationally eminent personalities. This will help to boost the system and technological expertise of the company.

At the current market price, the stock trades at 7.2x and 4.6x on FY07 and FY08 expected earnings of Rs 27.7 and Rs 43.3, respectively.

The revenues of the company increased 119% in FY06 and the report expects it to maintain robust growth in FY07 as well, at 85.5% and in FY08 at 36.1%.