Saturday, October 4, 2008

Buy UB Engineering-Nirmal Bang

Nirmal Bang in its September monthly update has recommended a buy on UB Engineering Ltd with a price target of Rs 230 in a time span of 12 to 18 months.

Report

UB Engineering Ltd (UBE) is one of India’s leading Engineering companies in the field of installation of industrial plants & substations. UBE serves to various sectors like Power generation (Thermal, Gas, Hydro and Nuclear) and distribution, Refineries,Steel,Cement,Oil, Gas, Fertilizers, Petrochemicals etc. It is a part of the UB Group. UBE was incurring losses during 2000 to 2006 and its net worth turned negative.

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