[Source - The hindu Business Line] Investors with a two-year perspective can consider adding the stock of integrated engineering solutions provider Hindustan Dorr Oliver (HDO). The stock has risen sharply in the latest rally. The company’s strong June quarter earnings, steady order inflows and scaling up of manufacturing facilities to cater to diversified sectors have heightened the earnings prospects, calling for a re-rating. At the current price of Rs 132, the stock trades at seven times its expected per share earnings for FY10 and 4.5 times its likely earnings for 2010-11. The earnings have grown at a compounded annual rate of 40 per cent over the last two years, after it became a subsidiary of IVRCL Infrastructures & Projects. HDO has quickly ramped up its operations from providing engineering solutions primarily in the water and environment management space to providing engineering, procurement and construction (EPC) services for most of the process industries in...
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