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United Phosphorus gains on cheap valuations

Source : REUTERS
Last Updated: Mon, Dec 03, 2012 05:47 hrs
People walk pass BSE building in Mumbai

Shares in United Phosphorus gain 4.8 percent on fund buying on cheap valuations, dealers say.

Motilal Oswal Securities said in a note on Friday that the stock is a 'buy' as it is hovering close to three-year lows while the company has maintained 15 percent revenue growth outlook and EBITDA margin of 18-20 percent based on sustained demand in Europe and Brazil, and demand recovery in the United States.

Morgan Stanley wrote in a note on Friday "We believe the share price will rise relative to the country's index over the next 15 days. This is because the stock has traded off recently, making short-term valuation much more compelling."

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