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Friday, October 30, 2009

Elantas Beck India Ltd:Future growth prospects and outlook,open offer,buy/sell/hold?

Scripscan:Elantas Beck India Ltd

Story:The company manufactures specialty chemicals for the electrical insulation and other things. The most important thing is it is absolutely debt free; cash of around Rs 46 in the books. If you look at the earnings, I think the earnings per share for 2009 calendar year because of the German parent; calendar year it should not be less than around Rs 38-40. Share prices is Rs 460, if you reduce the cash per share then you are getting this valuation at just 9 or 10 times. So, I think dirt-cheap, blind buy.the stock is Schenectady Beck which is now Elantas Beck.Elantas Beck is a German company which acquired 88.5% of this company; it holds 88.5%, they have sent a notice that they want to delist the shares of the Indian company, the balance 12% is held by many shareholders including one fund which holds around 2% stake.Any foreign major which plans to delist its Indian company suddenly the stock attracts attention, people realised that it’s dirt-cheap because of poor liquidity.Once upon a time people were not looking at it for the last three-five days, now people started looking at it after this announcement has come through. So if you look at the valuations, the stock should not be less than Rs 600. So people who are trying to buy are going to end up making money because ultimately the parent will make an offer This stock has to go up I don’t think it requires any brains to recommend this stock.

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