Wednesday, February 4, 2009

Stock Idea: Mundra Port

Mundra Port witnessed its net profit increase by 92.23% on a YoY in the third quarter of the current financial year, ended December 31, 2008, mainly due to increased cargo traffic. It had handled 26.2 million tonnes of cargo versus 20 million tones for the nine month period of FY09, a growth of 29%.
This growth of Mundra comes as a surprise as most of the ports around the country saw of growth of just around 7-8% and due to the overall slowdown , ports on a macro level are expected to see a fall in cargo handling, especially in January and February. Mundra too is expected to feel the effect of the slowdown in the fourth quarter to some extent but should be able to bounce back by March.
The Dahej port is estimated to go on stream in second half of 2010. Mundra has started handling car exports for Suzuki and the first consignment of over 1,570 cars went to UK and Italy in January. The aim of the company is to make it a car export hub as its pre-dispatch inspection section centre has been set up by Suzuki. Mundra Port is also expanding its cargo handling capacity to 50 million tonnes by 2010, from 30 million tonnes now. This is set to more than double to 120 million tonnes by 2015. The company’s new coal terminal, with a capacity to handle 35 million tonnes a year, is expected to be ready by 2010.
Mundra had come out with its IPO in 2007 and collected Rs 1,771 crore, has so far utilised Rs 824.89 crore while Rs.946.11 crore remained unutilized.
The Adani group has approached Board of Approval on SEZs of the government with a proposal to merge its three facilities at Mundra. The merger of the three SEZs will help the developer to cut expenses on infrastructure, utilities and administration. The two adjacent Adani SEZs are situated near the Mundra Port & SEZ - while two are multi-product zones, the third is a power SEZ.
Stay invested as long term prospects of the company look good.
Source: sptulsian.com

Intraday Trading Calls for 04th February

Indian Stock Market may open Positive but remains very volatile.

Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):

SCRIP NAME

TRIGGER

PRICE

TARGET 1

TARGET 2

RCOM

Buy Above

160.50

165.05

170.00

Sell Below

157.40

153.15

149.00

POLARIS

Buy Above

53.20

55.45

58.00

Sell Below

51.30

49.35

47.00

INDIA CEMENT

Buy Above

107.60

110.50

114.00

Sell Below

104.35

101.20

98.00

BANK OF BARODA

Buy Above

246.20

251.60

258.00

Sell Below

242.40

238.15

234.00

ADLABS

Buy Above

167.80

172.15

178.00

Sell Below

164.20

160.15

155.00

REL INFRA

Buy Above

526.50

535.55

550.00

Sell Below

518.40

510.05

500.00

REL CAPITAL

Buy Above

381.50

392.45

405.00

Sell Below

374.20

368.45

360.00


GOOD LUCK

Disclaimer

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