Sunday, March 22, 2009

Scrips to Watch: ICSA INDIA, Titan Industries, Tata Power

ICSA India (Rs. 65.00) (Code : 531524) :- Technology solutions provider in the power sector ICSA India today said it has bagged three orders totalling Rs 464.17 crore from different entities for infrastructure-related works. The company has received an order worth Rs 254.21 crore from the Bihar State Electricity Board for supplying and installing rural electricity infrastructure and household electrification. The second order valued at Rs 170.17 crore was secured from Mahavitaran (Maharashtra State Electricity Distribution) for constructing and distributing transformers in the Nagpur zone. Besides, it has secured a Rs 39.79-crore order from MP Poorv Kshetra Vidyut Vitaran Co for installation of transformer sub-stations. Hyderabad-based ICSA India is in the business of construction of power transmission lines and substations. Its main area of focus is to provide technology to power companies for Transmission and Distribution(T & D) losses. It also provides products and solutions in the field of energy management, energy audit, control applications etc. It is a growth company which can give you handsome return in next one to two years. Accumulate at every decline in the next phase of correction.
Titan Industries (Rs. 726.00) (Code : 500114) :- Is among the few retailers to have managed strong growth in the ongoing slowdown. A presence across price points in both its key businesses —watches and jewellery — and an extensive network spanning 461 outlets, ensure that the company can capitalise on most areas of consumer spending, premium or mass Market, urban or semi-urban. Titan’s precision engineering business broke even in the December quarter, though eyewear business Eye+ is yet to achieve that. The business has good potential given the robust expansion — 30 stores in the last quarter alone — and the high margins possible in eyewear. In December quarter, its net profit declined a bit, but gross profit margins of jewellery actually improved 2.5 percentage points to 6.4 per cent. Titan Industries has the highest return on capital employed in this segment. At CMP of Rs. 721, the stock trades at 15 times its trailing earnings. It is attractive for such a growth company. Buy at every decline.
Tata Power Company (Rs. 666.00) (Code : 500400) : There were reports that Tata Power Ltd. may sell a part of its stake in a 4,000-megawatt (MW) ultra mega power project (UMPP) that it is building at Mundra to fund capacity addition of 5,660 MW. The company may also sell a part of its 74% stake in the 1,050 MW Maithon power project, which it is building in joint venture with Damodar Valley Corporation, says a financial newspaper. The company is considering its options and has not taken a decision. However it denied the rumors which say that the company was trying to sell its stake in two Indonesian coal mines owned by PT Bumi Resources. The company is committed to complete this project as per schedule and it has indicated that finance will not be a constraint. There is good value in this Tata group company. Invest.

Source : Internet (SmartInvestment)

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