Credit Suisse 04-Apr-08 1 Outperform $2.80 38.6%
Aditya Birla Minerals CEO, Sanjay Loyalka, has announced his resignation effective April 30th, and as yet no replacement has been named. Analysts from Credit Suisee are hopeful that the replacement CEO will be from a mining boackground and is not from within the broader Aditya Birla/Hindalco empire, although they admit this is unlikely.
The analysts noted some interesting developments at Adity Birla, including commitment to an exploration budget of $22m. And with an ungeared balance sheet and assets in production, Aditya can afford to reward shareholders, they believe.
They are quickly to add it is not clear what the company will actually pay as a dividend in FY08. The analysts have maintained an Outperform rating on this stock and a target price of $2.80.
Credit Suisse 04-Apr-08 1 Outperform $2.80 38.6% Aditya Birla...
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| Open | High | Low | Value | Volume |
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