Intraday calls for 02-05-12
Markets likely to open slightly higher. Support for nifty is at 5180 and resistance at 5260.
Buy United Spirits at 782, target: 798-800. Stoploss: 768 – (Exit united spirits at 788)
Trade in small quantity.
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CB Says:
May 2nd, 2012
Posted at: 1:25 pm
Hi rgitkare, it has support at 2130. below this can test 2115
Rahul Says:
May 2nd, 2012
Posted at: 1:25 pm
please advice me one stock to buy for 2 or 3 months prospective.
CB Says:
May 2nd, 2012
Posted at: 1:26 pm
Hi Akash, no, dont add more
Hi Rahul, go with coal india and bharti on dips.
Dinesh Kumar Says:
May 2nd, 2012
Posted at: 1:26 pm
SBI hitting low.. Can i exit CB,, Please suggest the exit level
CB Says:
May 2nd, 2012
Posted at: 1:26 pm
Hi Dinesh Kumar, will need to hold it for some more time. markets are seeing some selling pressure.
CA.Tejas Says:
May 2nd, 2012
Posted at: 1:27 pm
Jain Irrigation Stock Idea for 3-6 months
Jain Irrigation has been facing tough time since past year. This was due to delay in it's receivables from government. As a company, it looks like Jain Irrigation is working on to be less vulnerable to non-receivables and to expand the market abroad. The turn around for stock could be on next corner.
Business:
Jain Irrigation is in business of micro-irrigation systems (MIS) and it is the biggest player in it's industry. Sales of Micro-irrigation systems constitute half of Jain Irrigation's total revenues. Company's products are eligible for capital subsidy from central government. These subsidy payments were delayed by government (as you know how Indian government works!!) in past 6-9 moths. This created problems for Jain irrigation in terms of working capital requirements and have contributed to it's lackluster performance in last one year. The company lost more than half of its value in stock markets in 2011 for its inability to curb the receivables.
Jain Irrigation's PVC pipe business grew 36% Y-O-Y in previous quarter. Company is tapping foreign markets and expecting exports revenue to grow to $100 millions. If company achieves this target, it will be more than 6 fold growth in PVC pipe exports business. Company is also working towards reducing it's working capital cycle for better balance sheet stability. For the same reason, Jain Irrigation has decided to operate an Non-Banking Financial Company (NBFC) and has approached RBI to obtain the same. Operating NBFC will help company in it's working capital requirements.
Stock Financials
Reported Profit After Tax for last quarter was at Rs.1.2 Crore which is a fall of 98.3% Y-o-Y. Fall in PAT was on account of higher interest cost of Rs.91.6 Crores and forex loss of Rs71.1 Crores. However, adjusted PAT stood at Rs.72.4 Crores.
The company's profitability in the last two quarters was hit by mark-to-market losses on its $157-million outstanding loans. The losses stood at Rs 59.3 crore in the September quarter and Rs 71.1 crore in the December quarter. However, these mainly remain non-cash adjustments. The main source of pain was the interest cost, which at Rs 250.6 crore for the nine months ended December 2011 was up 58% against the year-ago period. The net profit in the same period almost halved to Rs 95.2 crore.
Stock Valuations
At current stock price of Rs.88, the stock trades at P/E of 17. In coming quarters, balance sheet would be without forex losses and company's profits would be boosted by significant difference. This makes it a stock to buy in mid cap space.
raj Says:
May 2nd, 2012
Posted at: 1:28 pm
cb ur view on nifty??? can i buy 5200 put?? if yes s/l pls
VJ Says:
May 2nd, 2012
Posted at: 1:28 pm
heromotocop is predicted to have strong resullts... shall i enter 2300 Ce now?
Akash Says:
May 2nd, 2012
Posted at: 1:28 pm
Hi CB, Ok. So anything which I can buy for BTST?
CB Says:
May 2nd, 2012
Posted at: 1:29 pm
Hi CA.Tejas, thanks for the detailed update
Hi Akash, no, not yet
Hi VJ, technically if heads for a close above 2250, can test 2280-2300
Hi raj, no, not yet. as of now seems may close a bit positive.
Naran Says:
May 2nd, 2012
Posted at: 1:30 pm
Hi CB, Where is the next support level for NIFTY Below 5240 ???
CB Says:
May 2nd, 2012
Posted at: 1:32 pm
Hi Akash, no, not sure
Hi Naran, its near 5180-5200
Naran Says:
May 2nd, 2012
Posted at: 1:33 pm
INR VS USD DIPS 3 MONTHS LOW....
Rahul Says:
May 2nd, 2012
Posted at: 1:33 pm
prospective of BHEL at current level.
Naran Says:
May 2nd, 2012
Posted at: 1:34 pm
Hi CB, tHANK U CB...I AM HOLDING 5300 PE @100
CB Says:
May 2nd, 2012
Posted at: 1:35 pm
Hi Rahul, has strong support at 220-223. if holds it for 1-2 days, can see a bounce from here
Hi Naran, most welcome. ok. hold for now. sl near 5265