Unity Infraprojects is expected to reach a price target of Rs 569, as the company raised its fund of amount Rs 73 crore by private placement of 14.5 lakh shares with the institutional buyers at the rate of Rs 506 per share. The amount collected from QIP will be used for its capital expenditure and to meet its operating expenses. By QIP it is believed that the interest spent by the company will reduce and PAT is estimated to range between 5% and 18% in the financial year 2010 and 2011, EPS is estimated at 7% in the year 2010. Sharekhan maintains BUY as the stock attractively valued.

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