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Thursday, January 31, 2008

ETC Networks:-The scrip with multibagger potential


The scrip was recomended by me at 150rs and from there it hit a high of 375rs.Target was acheived butdue to the market volatility its presently quoting at 230 odd levels.

Scripscan-ETC Networks
Traded in:NSE-BSE
Story:Merger story

Etc networks is going to de delisted after trading of today.The company is merging with ZILS which is the educational business arm of the zee group.

The merged entity is expected to post revenues of around 95crs in 08 with a Profit after tax of around 17crs.Equity would be around 10crs so Eps comes at 17rs for 08.Now for every 2 shares of etc networks one would get 1 shares of ZILS.So real effective price would be 464rs(Etc is quoting at 232rs and one would get 1 shares for every 2 shares held).Even at that price its quoting at just 27 times its estimated fy08 earnings.Stocks in the similar category,Computer –Education,like Educomp Solutions, Everonn Systems are quoting at P/E multiples in excess of 60-80 times expected earnings.Even IF we give a P.E of 50-55 to the merged entity,its coming as a doubler.Well lets leave the valuation to you guys to decide."Altogether a great buy.

Today is the last chance to get the stock.So members buy it before u miss the buss.You all have seen how shristi infra post merger with peerless moved after relisting from 450 to 1030 levels in just no time.The same just cant be ruled out in case of ETC networks too.Its a gr8 business and real exciting times are ahead for the shareholders.

BTW:-It will list within 4-5 months maximium..Considering the market volatility these can be a safe option to keep your money in the stock and get the benefit of capital appreciation when the scrip lists.

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