CWT

CWT: IIFL reiterate Buy with $1.55 TP. Note that Co. on the growth track and believe the grp should continue to outperform this year, inline with aggressive plans to grow its highly profitable commodity logistics business. Estimate CWT’s core NP will grow by 44% in FY11 and 27% annually over FY10-13, driven by 10% revenue CAGR and 200bps expansion in operating margin.