Shiv-Vani Oil and Gas – ‘Vast Opportunities’ – BUY : IIFL

Shiv-Vani Oil and Gas – ‘Vast Opportunities’ – BUY says India Infoline
CMP Rs454, Target Rs560, Upside 23.3%

Shiv-Vani Oil and Gas Exploration Services Ltd (SVOG) is well poised to gain on vast emerging opportunities in the E&P space in India. Pending minimum work program (MWP) commitments of NELP rounds, development capex and rising exploration activities in CBM fields, will translate into robust order inflows for SVOG. Its integrated nature of services will provide sustainability to margins. The stock is attractively valued at P/E of 5.7x FY12E EPS of Rs80.

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