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Saturday, June 11, 2011

Patel Engineering Ltd:-Buy/sell/,growth prospects and recommendation,news and results,target price and analysis,views and outlook,multibagger

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 3 weeks back.

btw:Broking members(Members having an online trading account with my firm) by virtue of having a lifelong association enjoys the paid calls for free.To vigil the calls of the last 3 years one can give a look to http://paidtrackrecord.blogspot.com/

Market outlook and stock tip:-Patel Engineering Ltd
Saturday, May 21, 2011

Scripscan:Patel Engineering Ltd
Traded in:Nse-bse
Cmp:136
Target:178
Return:30%
Duration:4-6 months

Story:Couple of months ago I was about to recommend patel eng at around 140 but it ridiculed me to hit 190 odd in no time.I was eying this great stock for long and finally here I go.Patel Engineering Ltd (PEL) is a leading infrastructure player, focused towards the construction of thermal and hydro-power projects,irrigation, and urban infrastructure.The company is in the midst of a transformation in the businessmodel to become an asset-owner from being a pure construction contractor.It has one of the highest operating margins among its peers due to its presence in niche lucrative segments.The company has got an order book of over 10000crs but it only quotes at a marketcap of 950crs.The order book consists of 45% for the hydro projects, 40% for water irrigation projects and the remaining 15% is the built, operate and transfer projects into the road space.The management expects the order book to increase by around 40% to 60% in FY11-12.PEL also has a large land bank of 1,147 acres spread over four cities, acquired at a very low cost.The company plans to monetize this over the medium-to-long term.Conservatively that should add upto a value of between 100-120 per share.In any case the intrinsic value is much superior to the present price of the company.I am very positive about this stock as I believe the growth momentum in core construction would pick up in H2FY11-12 and positive development expected in power (financial closure and value unlocking) and real estate business (speed up in project launch).This is the same company which was quoting at 500rs in last april 2010.In no way it justifies the present price which is at a huge discount to its SOTP valuation.As I have often mentioned in stock markets, scrips can remain oversold for long but markets cant overlook quality stocks.Patel can certainly drift a bit further down but over the longer run it will make good money for its stakeholders.Accumulate the stocks in bit and at every declines.Its expected to end fy12 with an EPS of 20rs its consolidated earnings so even on a PE multiple basis its quoting at attractive valuations of less than 7X its forward earnings.Altogether a great value buy.

Todays update:The company is at 160rs up over 18% from the suggested price and looks good for even more.Patel eng should settle at higher prices going forward.

Regards,
ARUN
I can be reached at:arunsharemarket@gmail.com

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