The Economic Times reports that the IT ministry is looking to connect 50,000 gram panchayats through non optical fiber network this year followed by 2L gram panchayats in next 2 years.
Finolex Cables, which operates and is the leader in this space and which I have written about in my earlier posts (read them here and here) continues to do well.
With an IT savvy PM, I expect the broadband rollout plan to be aggressively followed through. The power cable business is also likely to pickup once the industrial cycle picks up.
I continue to be bullish and hold my previous opinion of the price target of between 240-360 and a FY15 EPS target of 16-18.
CMP - 199.