Prabhudas Lilladher: Gammon India - Outperformer

According to the brokerage house, Gammon India's recorded PAT of Rs 262m climbed 5.7%. The EBITDA margin stood at 10.8%, seeing a 460-bp sequential expansion, mainly on account of projects reaching threshold levels and therefore incomes booked whereas net sales grew by 41% to reach Rs 3.78bn.

"At the CMP of Rs 387, Gammon trades at P/Es of 28.9x and 21.1x FY07 and FY08 estimates respectively and EV/Es of 17x and 13.1x." They upgrade the stock from their earlier Market Performer to an Outperformer.

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