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Monday, December 14, 2009

Western India Shipyard Ltd:Future growth prospects and outlook,why its moving?Target price?latest news and buy/sell/hold?

Scripscan:Western India Shipyard Ltd

Story:Western India Shipyard is engaged in building and repairing ships. It operates as a composite ship repair facility in India. It offers ship services, including routine maintenance and damage repairs.The company has been buzzing bigtime since it bagged an order worth Rs 5 crore for the repair of a deep water oil rig named JUR Noble Ed Holt.The small-cap stock had outperformed the market over the past one month till 11 December 2009, rising 14.65% as compared to the Sensex's 1.60% rise. It had underperformed the market in the past one quarter, falling 8.28% as compared to the Sensex's return of 5.26%.Western India Shipyard reported a net loss of Rs 4.47 crore in Q2 September 2009, lower than net loss of Rs 7.33 crore in Q2 September 2008. Net sales declined 15.4% to Rs 17.24 crore in Q2 September 2009 over Q2 September 2008.Shipyard industry gets negligible valuations to the tune of 4-6 PE whereas western india being a deep losing making company is already attracting a valuations of over 150 crores.In no ways the second run stock can command premium valuations than its larger peers.Its a FV 2 company so dont make an entry into it for saking of keeping a penny priced stock in portfolio.Its in a momentum and thus the spike but ones it fizzles out retail guys can have a tough time.Suggestion would be to exit at higher levels or at present levels to move into better growth oriented stock.

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