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Friday, October 30, 2009

Elnet Technologies Ltd:Future growth prospects and outlook

Scripscan:Elnet Technologies Ltd
cmp:60
Code:517477

Story:Elnet Technologies Limited provides infrastructure services to software and business process outsourcing industries in India. The company develops and manages Elnet Software City, a software technology park. Its park covers approximately an area of 200,000 square feet and area of 170,000 square feet for lease located in a 3.16 acres plot in Taramani area, Chennai. The company was incorporated in 1990 and is based in Chennai, India.Elnet Technologies have been riding high in recent weeks on buzz that the company’s subsidiary ETL Infrastructure Services may bag a few contracts in the construction of the 45-km twin corridor Washermenpet-Chennai Airport metro rail corridor project. The estimated cost of this project is Rs 14,600 crore including escalation, central taxes and interest during the period of construction, but excluding state taxes and value of vacant state government land. Because of its experience in such projects, market players are expecting the company to bag the order for at least one corridor.If the company is able to bag few orders its set to buzz bigtime.Its in momentum now expect action on news of any orders.The company is set to report better numbers going forward.All these developments makes elnet tech a good stock to buy at lower levels.

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