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Wednesday, May 13, 2009

Elecon engineering:-My bet in the engineering sector

Many of you repeatedly in my mail have asked for paid calls and what they will be and all.Now as an amateur and being a social guy I would always safeguard the vested interest of investors than something else.The open blog is a place for me to give guidance..paid blog is for the one who needs those calls and my bigtime guidance desperately.Anyways here"s an example of a paid member call and the type which I provided just few days back.

Sunday, April 5, 2009
Market outlook-Stock idea:-Elecon engineering

Indian markets have risen 26% in past four weeks. The current flourish is part of global bull rally in equities. US markets had the best four week stretch of gains since 1933. Dome consolidation is required before equities make their next up move.Broader markets continue to be chirpy and traders should focus on small and mid caps while Sensex may consolidate gains after opening with a flourish. Election fervor is going to rise with every passing day and quarterly results are going to start trickling in. This holiday shortened week, is going to test resilience of the bulls against the bad economic news. Traders, keep trailing stop on longs and make hay while the sun shines.

Scripscan:Elecon Engineering Company Ltd
Traded in:Nse-bse
Risk:Low risk-high return bet
Duartion:9-12 months
Return percentage:80%
Stop loss:Not needed

Story:Elecon Engineering Company is amongst the oldest and biggest MHE (material handling equipments) companies in India.Its user industries are power projects, fertilizer plants, etc. where slowdown is not there and hence, Elecon should continue to grow reasonably. As against Order Book of 1100 crs. in Dec. '07, its Order Book in Dec. '08 was Rs. 1800 crs.Company has made forex loss of 11 crs. in 9 months and still achieved 40.45 cr. profits.Reduction in metal prices may enlarge its profit margins in coming Quarters.Promoters are investor friendly and had declared bonus issue in the ratio of 2 shares for every 1 share.Promoters are also buying shares from open market regularly. Stock is available at 5 x FY09E EPS and 3.8x FY10E EPS.Elecon deserves much higher valuations.Don't be surprised if share price doubles in 2009.A good solid bet.

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