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Friday, February 19, 2010

Hindustan Copper Ltd:Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:Hindustan Copper Ltd

Story:In a bullmarket,you will come across several inventive variants of a sob story.Something just like "One my relatives made tons of money in the stock market. He had a friend who worked for a big operator. Every time he bought a stock,it doubled within a month.I was tempted to go along, and the next time he bought a stock,I bought it too. That stock doubled. Then I sold some jewellery,took an advance against my provident fund and put it all into the next stock he recommended. This time, the stock went down.I waited for a year hoping the price would recover.Finally after I'd lost 75 per cent of my capital,I sold.Oh,and my idiot relative too lost a packet!" It's easy to lose big money in a bull market.Prices are inflated, the financials of "hot picks" are often dubious,everybody has sure firekhabar.Above all, many bull market participants tend to be inexperienced and sometimes arrogant; and they tend to get drunk on success. When prices fall, most of them lack the discipline to admit they've made mistakes and exit with dignity.Off late am quite amazed seeing the phobia in Hindustan Copper Ltd.Its a psu where govt owns over 99% stake and with recent buzzs of some disinvestment the counter has been a hot favourite to the retail fraternity.Hind copper at present prices is attracting a marketcap of 60000crs,Now its a psu where employess hardly works,its a commodity stock where boom follows doom,commodities seldom quote in double digits PEs.Hind copper has given a guidance of 100crs profits this fiscal which may sound stunning as it delivered only 50 million last fiscal but again even after 100crs profits the EPS would be just 1.1.It makes no sense to give a PE of 600 for a govt owned commodity stock.The present irrational exuberence may well take it to different orbit but that would only be an oppurtunity to exit and move to a better growth oritened stock.

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