The stock of Rolta India Ltd was recommended today, at Rs.64.10 for short term targets of Rs.71-75. The company is having a board meeting next week.
The company was recently invited to bid for a multi-million dollar 'Make in India' project and project of Rs.60,000 crore in consortium with BEL is also progressing well.
On other deal front, the company won USD 15 million project in West Asia for smart city & 3D mapping. It also won a deal with a housing authority in West Asia for land administration.
Rolta Ltd plans to streamline the defence business as a separate and distinct wholly owned subsidiary mainly because the regulatory environment is different for the defence and IT businesses.
Moreover, it would also help them to completely focus on defence business since Rolta is one of the few companies that have been repeatedly invited for ‘Make in India’ projects.
Most of the demerger news are generally positive for the shareholders.