Thursday, September 25, 2008

Stock Idea: Patel Engineering

Civil engineering and construction firm Patel Engineering saw some major buying on its counter a few days ago, with the stock going up over 6% in one day to Rs.375. This sudden surge in the price was on account of the huge order worth Rs.695.57 crore, it received from the Andhra Pradesh Govt. It is a massive modernisation programme of the major river delta systems to boost irrigation potentials in the state. The project is expected to be completed in 36 months. After the euphoria settled, the stock has now retreated a bit and is now at around Rs.340 levels.

Prior to this, the company’s stock price was up on reports that the company is close to acquiring a coal mine in Indonesia for Rs 100 crore.

Financial performance for the first quarter ended 30th June 2008 indicates that the company is doing well. Net sales of the company rose 34% at Rs.558.39 crore and despite a 30% rise in operating expenses, its EBIDTA was up 30% at Rs.479.83 crore. Its interest outgo rose over 3.5 times, yet it managed to show a 33% rise in PBT. Its PAT was up 29% at Rs.34.99 crore.
In May 2008, Patel Engineering’s joint venture in the United States received a dam reconstruction contract worth $280 million.
The only irking fact about the company is the string of subsidiaries it has. These consolidated results include the performance of nine subsidiaries and four financially controlled integrated joint ventures. Apart from these, during the quarter, the company incorporated twelve more Indian subsidiaries and two overseas subsidiaries. Stay invested.
Source: sptulsian.com
Posted by at

Intraday Trading Calls for 25th September

Indian Stock Market may open positive and remains in small range with positive bias through out the day today. Market may see a sharp rally today or tomorrow.
Today's Intraday Trading Calls / Stock Tips (Keep Appropriate Stop Loss for each trade):
GSS AMERICA INFO (235)
Buy Above 237.40 Target 243.50, 250.00
Sell Below 232.20 Target 227.15, 220.00
GTC INDUSTRIES (127)
Buy Above 129.35 Target 133.65, 138.00
Sell Below 125.20 Target 122.15, 118.00
NUTEK INDIA (131)
Buy Above 132.80 Target 135.75, 140.00
Sell Below 129.40 Target 125.70, 122.00
ANU'S LABS (272)
Buy Above 275.40 Target 281.40, 288.00
Sell Below 269.40 Target 264.15, 258.00
ANSAL INFRA (89)
Buy Above 90.65 Target 94.25, 98.00
Sell Below 87.45 Target 83.25, 80.00
AUSTRAL COKE (262)
Buy Above 265.40 Target 272.20, 280.00
Sell Below 259.20 Target 253.15, 245.00
GOOD LUCK
Posted by at
Subscribe to: Posts (Atom)

Disclaimer

The information in this publication is provided by http://www.moneybazzar.blogspot.com/ is intended for use for Readers & Traders . Every effort is made to provide accurate information, but http://www.moneybazzar.blogspot.com/ cannot guarantee the accuracy of the information or of the market analysis. This is a newsletter and is for informational purposes only. It is not a solicitation or offer to buy or sell futures. There is a high risk of loss in trading futures. You should not trade with money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this newsletter. The past performance of any trading system or methodology is not necessarily indicative of future results.



free counter