TIMKEN INDIA - UPDATE

I have recommended a BUY on TIMKEN INDIA @ Rs.125/- ,on 3rd May 2010.Currently it is trading around Rs.154/- .Based on the expected good demand from the user industries for its products ,I reiterate a BUY at current level for reasonable return in medium term.

Old report can be accessed HERE

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ORCHID CHEMICALS - UPDATE

I have recommended a BUY on Orchid Chemicals @ Rs.161/-.Currently it is trading @Rs.232 .Long term investors can still HOLD and short-medium term investors may book partial profit at current level.
Old Reports can be accessed below:

ORCHID CHEM -1

ORCHID CHEM -2

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UNIVERSAL STARCHCHEM ALLIED LTD -BUY

Starch Industry is expected to perform well going forward mainly because of the expected reduction in raw material cost and improved demand from user industries like FMCG.Poultry ..etc.Universal Starch chem Allied Ltd is a company from this sector which is started to showing encouraging financials.This Maharastra based company producing many starch related products like Maize Starch Powder,liquid Glucose,Destroxe Monohydrate and having good business relations with companies like Johnson and Johnson,Cadbury ,Hindustan Unilever..etc.For the latest June qtr ,company posted a turnover of Rs.27 Cr v/s Rs.21 Cr and a net profit of Rs.1.8 Cr v/s Rs.90 lac. EPS for June qtr is above Rs.3/- .Better performance is expected going forward,one can BUY @ Rs.36.5 for medium term.

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DE - NORA (INDIA) LTD - WILL IT BE A MULTIBAGGER ?

MNC’s always enjoying premium valuations in Indian

Stock market ,especially companies operating from niche

space.De Nora India (DNI) is a niche company commanding a

market share of about 75% where it is operating , but

overlooked by the investor fraternity- may be because of  the

complex nature of business in which it involved .

This company is a 51.25% Subsidiary of Gruppo De Nora

of Italy ,the world leader in design,erection and

commissioning of electrochemical plants. DNI’s main business

includes coating of anode and Cathode using in Chlor Alkali

plants and corrosion systems used for preventing corrosion

in SAW pipes ..etc. Along with this ,company is also supplying

electro-chlorination equipments for purifying water  for

drinking and Industrial purpose. The erstwhile Mercury Cell

technology used in our country is now gradually converting

into Membrane Cell technology, which is opening huge

chance for company’s product. Even if the new cells need

not require coating in the initial few years of operation it

should be coated periodically thereafter which is a big

opportunity for the company. In last  year DNIL introduced

Platinized  Titanium Anodes  for  surface  finish application

in India .Company’s factory located at Goa is equipped with

most modern facilities and it is getting full support of its

parent company. Lying of large network of pipelines in oil

and gas sector,building of new bridges ,different type of

concrete protection requirements ..etc are expected to

bring good business for company’s Cathodic protection

division.On the negative side ,company’s business

have some cyclical nature,and is related with the fortunes

of Chlor Alkali industry which is now  started showing revival.

Secondly there was an order against the company  by the

Directorate General of Supplies and  Disposals, Ministry of

Commerce and Industry which restricts the company from

business with certain  government departments for a

period of five  years  .But, DNI  challenged this order and

in last month got an order stating that the time period

reduced to just one year starting from 22.02.2010.

Even if it may slightly affect the

performance in very near future,there is good scope

for its business in private sector and also in export front.  

FINANCIALS

DNI’ financial year ending is in the month of December.

Last financial year witnessed one of the worst performance

in recent past where company posted a turnover of Rs.13.45

Cr and a net loss of Rs.33 Lac(excluding other income).

But ,for the qtr ended June 2010 alone company posted a

sales of Rs.4.74 Cr v/s Rs.2.29 Cr and a net profit of

Rs 1.20 Cr v/s .58 Cr. Half year EPS is Rs.2.14 v/s Rs.1/- .

Company is very liberal in dividend payment which paid 50%

in 2004 ,70% in 2005 ,69% in 2006,58% in 2007,25% in 2008.In

2009, due to loss company skipped the dividend and it is

expected to give higher yield in this year due to better

prospects. Considering the support from the parent

company which is the world leader, revival in the user

industries ,chances of a turnaround performance ..etc

company may turn as a multibagger going forward.

CMP is Rs.79/-(Trading in both NSE and BSE)

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KAVERI SEED COMPANY - REPEAT

I have recommended a Buy and Hold on KAVERI SEED COMPANY from Rs.272/- level.Currently it is quoting around Rs.305/- .With a strong R&D,aggressive business strategies and an able management who knows the pulse of the agriculture sector - this is a stock to watch in any correction .I believe , KSCL is a perfect fit for those who are considering equity as an asset class and willing to hold for long term with patience to reap bumper crops.

Old report can be accessed HERE

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CONCURRENT INDIA INFRASTRUCTURE - CHEATING ALL THE WAY ?

Many times in the past, I  warned my readers about investing in companies with suspicious management .This is proved by the recent announcement of CONCURRENT INDIA INFRASTRUCTURE .Today the company in a filing to BSE declared that they have decided to withdraw from all major projects announced earlier. THIS IS A CLEAR CASE OF CHEATING POOR RETAIL INVESTORS AND THE AUTHORITIES SHOULD TAKE STRICT ACTION AGAINST THE PROMOTERS AND OPERATORS PLAYED BEHIND IT. 

Hope nobody trapped in this counter and once more urging everyone to make due diligence about the management before investing in any company especially small and mid caps .Companies with good management may move only based on their financial performance but chances are rare to loose your shirt in such counters.At current market price of Rs.21/-,just sell and run.

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VIMAL OIL AND FOODS - UPDATES

I have received lot of queries regarding the open offer made by the existing promoters of Vimal oil and foods @ Rs.51/-. As per the prevailing law, promoters can hike their stake through creeping acquisition method upto 5% in each financial year .But in this case they have  pumped an amount more than  Rs.30 Cr by subscribing 60 lac equity shares at a price of Rs.50.16/- through preferential issue . This is  way above the limit of 15%(upto open offer not applicable).Hence as per the rule ,it is a mandatory open offer. Since the market price is above open offer price ,chances are low to get shares in this offer till market price ruling above the open offer price . This means ,open offer @ Rs.51/- is not a reason to come down the share price to this level in any way.On the other side ,this development is really a positive one.Promoters are bringing huge money to the company itself is a sign of their confidence .This amount is expected to partly used for reducing debt  and balance for further business development ,which is positive for the company in the long run
---------------------------------------------------------------------------

This is to clarify some doubts raised by some readers as comments and through e-mail.

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SURYAAMBA SPINNING,TT LTD ,SURYAJYOTHI SPINNING MILLS

After a long period ,Textile and related sectors are started to catch the attention of market participants. Improvement in exports to western countries due to easing of recessionary pressure and increasing local spending by middle class are the main reason for the improvement of the performance of companies from this sector.Being a low cost producer Indian companies are expected to benefit from the current scenario.Even if the rising cotton prices is a concern ,a re-rating to certain extent in this sector can't be ruled out . One may look into companies like SURYAAMBA SPINNING MILLS(Cmp Rs.71/),SURYAJYOTI SPINNING MILLS LTD(Cmp Rs.39.85/-) and TT LTD(Rs.38.70/) which shows sharp improvement in financials in recent times

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DFM FOODS LTD (BSE CODE -519588) - BUY

In a country like India with huge population and increasing

disposable income , scope of companies from food processing

sector is very vast,especially those with good brands.But,

unfortunately many such brands are owned by unlisted

players or high priced MNC’s . Only very few companies

developed niche market and established their own brands

and growing handsomely. DFM Foods is one of such company

which is a dominant regional market player in snacks foods

sector. DFM is promoted by Delhi Flour Mills and had two

divisions till last year – Wheat storage Business and Snack

Foods Business. From last year onwards DFM discontinued

the low margin wheat storage business and now concentrating

only in snack foods division.Its brands  CRAX,NATKHAT,

WIZZ ..etc are popular in northern part of India.Last year

company expanded its capacity at a cost of Rs.13 Crore and

due to huge demand for its products now again planning to

expand the capacity further. Company is also taking steps to

make it a Pan India brand in few years from now.In last

financial year DFM’s snack foods division shows a growth

of 35% in turnover(Total turnover was less due to

discontinuation of wheat storage business).Net profit also

sharply improved from Rs.1.99 Cr to Rs.4.21 Cr backed by

better margins from snack foods division. In the first

qtr of this financial year(June qtr) company shows an increase

of 50% in its sales from Rs.13 Cr to Rs.20 Cr .With increasing

urbanization and changing life styles,demand for snacks

foods are expected to rise sharply and on the other side the

expected record production of wheat will reduce the pressure

of raw material cost which will help the company to record

better performance going forward. Earlier, company had an

image of a wheat trader and enjoyed only low valuation due

to the image of a trading company. But now it is a pure

FMCG/food processing like play and it should be re-rated

accordingly. There is good scope for appreciation from

current level of Rs.48/- 

* I have earlier mentioned DFM in MMB in Nov.2009

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THE FACT SHEET

Dear Readers

My blog is seven months old now .Thanks for all, for
your overwhelming support and participation.I have
heared a lot of praise and curse during this short span
and taking the good side of both alike.Many of our
readers are requesting for a review of past
recommendations especially about the laggards.
So I am taking this opportunity to re look into
my past recommendations .
By god's grace  most of our scrips performed well ,but
don't forget it was a good bull market and we can't expect
such a performance every time.But my strong belief is that
- if a company is growing ,irrespective of the nature of
market ,shares of such companies will deliver reasonable
return in long term -and all my recommendations are
based on this.

Table 1 includes the companies which are recommended
in the past and still ruling  above the recommended price .
Companies now ruling below recommended price are
included in table 2 with current opinion on such scrips.
Percentage of return is NOT annualized.
------------------------------------------------------------------
TABLE - 1

SCRIP NAME      REC          HIGH    %RETURN
                          PRICE         SINCE   ON HIGH
                                              REC.
---------------------------------------
SANGAL PAPER       17         48         182
INTERLINK PET       33         92         178
JK AGRIGENETICS  170      444        161
SIMRAN FARMS      30        75           150
UT LTD                      17         41        141
RAM RAT WIRE       48       115          139
SIYARAM SILK      168       397           136
WINDSOR MACH   35          77           120
SPICE MOBILES     40          88          120
ABM KNOW           45          99            120
CHOLAMAND        82        179            118
TASTY BITE          165        352          113
ATUL AUTO          71          150           111
YUKEN INDIA    140          280             100
POLY MEDIC      130          250              92
GUJ RECLAIM    730          1399             91
ARIES AGRO      108          204               88
JAGATJIT IND    65            122                87
ITL IND               54              99                83
PIRAMAL GL      78            138                76
YUKEN INDIA  160           280                  75
MAKERS LAB    35             61                   74
ORIENTAL CA    93           161                  73
TRANSPEK IND 100          173                  73
JINDAL HOTEL   47            81                   72
ROTO PUMP       80           137                  71
SHIRPUR GOLD  161         275                 70
PIONEER INV     52             88                  69
CALI SOFT          41             69                  68
ARMAN FIN        21             35                  66
RISHI LAZER       52             84                 61
ARUNJYOTI EN  98           158                 61
KIRLOSKAR P  402           648                 61
AHLCON PAR     64          103                  60
INFOTREK SYS  23             37                 60
TALWALKER     162           260                60
APCOTEX IND   112         178                  58
KOPRAN LTD    29              46                 58
STERLING TOO 97              153               57
ITHL                  165            260                 57
STERLING STR  7                11                 57
KLRF                 23                36                56
SRI ADHIKARI 32                50                56
SUKHJIT ST    169              264                56
CHOKSI IMA    47                73                55
GOVIND RUB   17                26                52
MEDICAMEN   25                 38               52
BHARAT RASA 80               121              51
ASTEC LIFE       57                 86             50
CENLUBE IND   20                 30            50
SUMEDHA FIS   24                 36            50
KENNA MET    350                520           48
NILE LTD           115               169           47
IGARSHI            60                    88           46
GEI IND              120               175           45
ITL IND               69                   99           43
APAR INDS       198                284           43
TIMKEN IND     125               179           43
VIJAY SHANTHI 35                 50           42
NET 4 INDIA     109                 155          42
MAZDA LTD      98                  138          40
JYOTI LTD         82                  114          39
COSMO FER    13                     18           38
EPC IND            61                     84          37
INDSIL HY        76                   104          36
BHAGWATIAU 34                     46          35
WIRESANDFAB  110                148        34
LAKSHMI ELE    238                318         33
VESUVIUS       251                    328        30
VIMAL OIL        60                    76          26
ADANI POWER   114                144        26
MUKAND ENG    48                  60          25
LOKESH MACHINE    49          61          24
KULKARNI POWER    83       103          24
ORCHID CHEM    161             197          22
FORTIS HEAL    138               168           21
CONART ENG    28                  34            21
DR AGARWALS    71                86           21
FLUIDOMAT    29                     35           20
SRINIVASA HATCH    118    142            20
MULTIBASE INDIA    35          42           20
ACRYSIL            128               153           19
JSW ENERGY    115                136           18
KAVERI SEEDCO   272           321          18
APM INDUSTRIES    69             81          17
VELJAN DENISON    375        435          16
MODI NATURALS    14             16          14
SUPERHOUSE    62                    70          12
ALPHAGEO    215                     242         12
PUNJAB CHEM     135              150         11
SALONA COTSPIN    29             32        10
RELIGARE TECH    85                 93          9
GANDHIMATHIAPPL 73             79         8
          


AT LEAST PARTIAL PROFIT BOOKING SUGGESTED IN INTERLINK PETRO

           THE LAGGARDS

TABLE - 2              
  SCRIP          REC  HI    CMP        %             
              
INDAGE VIN  52     53     25            -51
SIKA INTE   70       74      53            -24

SICAL       85         104      66           -22
BHAG CHEM   70   91       55          -21
RUNGTA IRR  58   66        47         -18
RAGHAV IND  59   69       51         -13
ALPHAGEO  215    242   190           -11
DHP INDIA   41      46       37          -9
KIR ELE     84      106         76         -9
GOA CARBON  111    120 101      -9
TECH POL    23    23  21                 -8
VXL INST    32    33  30                  -6
LANCO IND   65    80  62                -4
JAY USHIN   159    169 153              -3
HARITHA SEA 99    119 97              -2
CATVISION   16    18  16                  0
CHAMAN LAL  44    53  44               0
AMCO INDIA  35    48  35                 0

--------------------------------------------------------------
EXPLANATIONS

1) INDAGE VINTNERS


At the time of recommendation itself ,it is clearly
mentioned that it is  only for high risk takers.Even if the
CDR package is approvred ,despite several attemps
company officials are not giving any clue about the
future course of action.
So it is very difficult to make a call at this juncture.
So extreme risk takers can continue
and others may book loss.

2)SIKA INTERPLANT

share price come down because of bad June qtr
performance,considering its niche status and ongoing expansion
cum modernization plans ,one can HOLD it for long term.

3)ALPHAGEO

Share price is below the rec.price mainly because of
negative out look of oil and related space in
short/medium term
A good company ,HOLD and BUYon decline.

4)BHAGIRATHA CHEMICALS

Earlier requested for an exit at Rs.61/-

5)DHP INDIA

June qtr result was not upto the mark,wait for few more
qtrs.before taking a final decision on it.


6)THE REST (from table -2)- hold for the time being and review
after Sep results.



Once again thanks for all and wishing a happy investing.
If need any clarification,mail to me at valuepick@rediffmail.com

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IPO UPDATE - CAREER POINT INFOSYSTEMS LTD

Based on the fundamentals and future growth prospects ,CAREER POINT INFOSYSTEMS LTD seems to be good public issue in recent times. One can apply at upper price band for long term gains.

Issue Date  : 16 Sep 2010 to 21 Sep 2010
Issue price  :Rs.295/ - Rs.310/-
Lot : 20 X

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SRI ADHIKARI BROTHERS TELEVISION NETWORK - UPDATES

I have recommended SABTV  from Rs.27 level ,
which  today closed in upper circuit @ Rs.45.95/-

Latest updates on its newly launched channel is below  :-

1) Latest interview with MD - HERE

2) Latest report on rating of new channel -BELOW

Courtesy : Futuristic Media

Mastiii scores a Hattrick!

Mastiii continues to be the No. 1 music

channel across HSM for three consecutive weeks

Three weeks  consecutively from the 6th
week of its launch,  Mastiii – the new, Hindi
music and comedy
channel from the house of Sri Adhikari
Brothers continues to enjoy the Numero Uno slot.
In Week 35, the channel has retained its No.1
position amongst music channels across Hindi
Speaking Markets (HSM)
but with a marked increase in the channel ratings. Mastiii
has moved from 16.5 GRPs in week 33 to 17.8 GRPs
in week 35 across the CS15+ group across HSM as
per the TAM data. The channel is also number 1 in the
CS4+ group across HSM, even in key target
groups – CS 15+ SEC AB, CS 15-34 Yrs making
it the most popular channel in its genre amongst children,
youth and adults alike. For the first time in the history of
Indian television a newly launched channel has achieved
this feat in such a short duration.

Speaking about the milestone, Markand Adhikari, Vice
Chairman and Managing Director, SAB Group, “We are
thrilled with the response we have received within a few
weeks of the channel’s launch. With this sort of
encouragement from our viewers we are motivated to
reach greater heights by providing them greater, more
compelling content. We would like to take this opportunity
to thank our viewers for showing their love and appreciation.”

Mastiii is a channel for everyone,
no matter how old one is
or what mood one is in… it aptly suggests ‘Mastiii Chaalu
Rakho’. When viewers on Mastiii are not swaying to
thumping beats and heart rending melodies, they are
sure to be in splits with the series of gags, spoofs, pranks
and other comic acts put on by some of India’s most loved
comedians including Raju Srivastav, Suresh Menon, Sunil
Pal, Shailesh Lodha, Ehsaan Quereshi, Raj Vyas, Kiku
Sharda, Howard Rosemeyer and Sugandha Mishra
amongst others.

Music on Mastiii ranges from the latest chartbusters to
evergreen favourites. One of the bigger differentiating
factors about the channel is that viewers are not left
craving for their favourite part of any song because
Mastiii plays full songs, un-abridged.

 

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JAY U-SHIN LTD - IMPROVING BUSINESS

Jay Ushin is  jointly  promoted by  JPM Group

and Japanese company  USHIN Ltd in 1986.

Currently the foreign promoter holding 26% in

its equity.It is one of the  major  suppliers of

auto parts like Lock Sets, Latches,

Switches & Body parts to

major OEM’s in India.Company’s customer list

includes Mahindra and Mahindra,

Tata Motors, Maruti  ,GM,Honda ..etc.  Its  plants

are located at Gurgaon, Manesar and Chennai . Indian

automobile industry is cyclical in nature and closely

related with the trends in interest rate

and spending habits . Generally  rural spending is mainly

depends on good monsoon which is favorable in this year.

This is expected to keep  the current uptrend in auto

demand for some more time. Companies like Jay Ushin

are also a beneficiary of increased demand ,since they

are supplying products to well known OEM’s. For the last

financial year Company posted a turnover of Rs.357 Cr ,

net profit of Rs.6.6 Cr  and an EPS of Rs.17/ .For the three

months ended June qtr company’s turnover was Rs.101 Cr

v/s Rs.79 Cr , net profit was Rs.2.2 Cr v/s 1.29 Cr and EPS

was Rs.5.8 v/s Rs.3.3.Company also declared a dividend

of 25%. It is expected to post better results in few more

quarters. Don’t forget that the scrip and the industry as a

whole moved a lot in recent past and any significant upward

change in interest rate may de-rail the growth of this sector.

Considering other companies from the same sector ,it seems

to be relatively cheaply valued .Only high risk takers can

consider in limited quantity. CMP is Rs.159/-

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SALONA COTSPIN

Due to the easing of recessionary pressure from
western economies ,Companies from textile
and related sectors are expected to perform
well in near future . Salona Cotspin
is a Tamilnadu  based company engaged in the
manufacturing of Cotton Yarn and Knitted fabrics.
Out of company's total sales, 41% income is
generated from Cotton yarn , 39% from
Knitted fabrics and balance from other
related products.Company is  planning to
expand its spindle capacity from 21744 to
24336 in near future and also planning to
increase the generation of wind energy to
reduce cost and ensure continuous supply
of power.For the financial year ended
March 2010 ,company posted a turnover
of Rs.55 Cr and a net profit of Rs.2.26 Cr
v/s a net profit of Rs.13 lac for
the last year. For the three months ended
June qtr of this FY ,sales is Rs.18 Cr  and
profit is Rs 1.25 Cr .On an
equity base of 5.32 Crore qtr EPS is
Rs.2.35.Company is expected to perform well
in near future .Even if company
is currently trading near its 52 week high ,
based on the expected full year performance
there is reasonable chance
for further upside.Movements in cotton
prices and power cut in TN are two factors
to watch.Currently it is trading around Rs.29/-

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CONART ENGINEERS LTD -WATCH IT

Conart Engineers is a Mumbai based construction company

specializing in Industrial, Commercial, Residential  projects

and roads and bridges. Even if the company is performing

well for the past many years ,it is ignored by the stock market.

Companiy’s client list includes well known names like

Alstom Projects,ABB,Advani Oerlicon, ABS Industries,

Camlin,Glaxo,Apollo Tyres..etc. Company is managed by

well experienced Engineers from ‘Sura ‘ family. For the last

financial year ,company posted a turnover of Rs .27 Cr , a net

profit of Rs.1.6 Cr and an EPS of Rs.5.5. Its order book is

above Rs.50Cr currently. After a long interval ,company has

declared a dividend in this financial year.

Currently it is trading with a market cap of just  8 Cr.

Considering the potential of the sector and experience

of promoters ,true investors can Buy below Rs.25 for

reasonable return in long term.CMP is Rs.28/-

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TIMEX GROUP INDIA - ACCUMULATE ON DECLINE

.

Timex Group is one of the largest watch makers in the world

Its Indian arm TIMEX GROUP INDIA started its operations

in 1992 in  association with TATA group ,but later part their

ways and now working  independently. For the past many

years company was struggling to exist ,but now it showing

some signs of recovery. Company  wiped off all accumulated

losses and coming back to growth path after changing its entire

strategy. Now company is selling its brands TIMEX,

MARK ECKO,NAUTICA, SALVATORE FERRAGAMO .

Etc through retailers and its own show rooms named ‘THE

TIME FACTORY’ .In the beginning of this year  , Mr Kapil

Kapoor from India has appointed as the COO of  Timex

Group’s worldwide operations . He is well experienced and

earlier with Nestle and Bausch & Lomb. After his appointment

as global COO, the Indian arm is enjoying more flexibility and

showing real improvement in all aspects. Now the company is

aggressively chalking out plans to capturing market share and

reducing costs. Currently company concentrating in price range

between Rs 500 and Rs 5,000 and claiming a market share of

21 % in this category. Company is now seriously thinking about

re-positioning its brands in other price category too. There is

also fair chance for brand extension to other lifestyle products

going forward. In first qtr  June 2010 ,sales grew 45 per cent,

while profits grew 107 per cent over the corresponding period.

Company posted a NP of Rs.5 Cr in this qtr where in last

FULL YEAR  it posted Rs.4.6 Cr only .Company having an

equity base close to 10 Cr  ,out of this almost 75% held by the

foreign entity. In order to clean up  the balance sheet ,company

reduced its FV to Rs.1/- and write off the balance earlier.

Considering the renewed interest of the management and

aggressive steps taken in recent past ,it is expected to perform

well going forward. But one should consider the fact that the

share price has run up sharply after the declaration of June

qtr result and now trading around its 52 week high .

One should keep watching and enter in a correction .

Currently it is trading around Rs.46/-

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SUPERHOUSE LTD - BUY

Superhouse Ltd is the flagship company of

superhouse group which is one of the largest

exporters of finished leather from India.

Company is supplying products to major

global brands like Tuff Tusker,Heckle,
Bulwark,Stabilus ,Secura,

Schutz ,Hauf ,HKS ,Globex, and EWS .

Apart from this company is selling its  two

brands  in India ‘Allen Cooper ‘ and

‘Double Duty’ through company owned

Allen Cooper shops. Company have six

subsidiaries -  M/s Superhouse (UK) Limited, 

 M/s  Superhouse (USA) International Inc,

M/s  Superhouse  Middle East FZC,

M/s Superhouse R.O. S.R.L.,Super House

HK  Limited ,M/s Superhouse R.O. S.R.L.

and Super House Canada  Inc.Superhouse group

 having 15 manufacturing units across India and

an annual turnover of Rs. 4,000 million .

Historically companies from this industry

commanding low valuation in Indian Stock

Market. But recent changes in export incentives

are expected to boost the performance of

companies from this sector and trigger for
a re-rating in this sector.In the last financial

year company posted a turnover of Rs.358 Cr

and a net profit of  Rs.14 Cr .On an equity base

of 11.4 Cr EPS was Rs.13.25/- .For the june qtr

of this FY company posted NP of Rs.3.48 Cr v/s

Rs.2.54 Cr.It is currenly trading with  a P/E ratio

of 4.6 on last full year EPS . At CMP of just Rs.62/-

it is a real valuepick

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SRI ADHIKARI BROTHERS TELEVISION NETWORK -BUY

I have recommended a BUY on Sri Adhikari Brothers on 27th February 2010 @ Rs.27/- .Currently it is trading around Rs.39/- Company has now re-worked their strategies and a started a new low cost music channel in the name 'Mastiii' which is reporting very good response from the viewers .Latest media reports showing that 'Mastiii'becomes No.1 Channel in its category .Company also posted turnaround results in June qtr.Considering the experience of promoters and their increased interest in this company (recently pumped about Rs.35 Cr by way of preferential issue) it may become a dark horse .Reiterate a BUY around Rs.35/-

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STURDY INDUSTRIES - FOOLING INVESTORS ??

Earlier I have recommended an AVOID on Sturdy Industries mainly because of my Skepticism on the management of this company.Today they have informed BSE that the company dropped their plans to issue

preferential allotment of warrants to promoter and non promoter category. Just before this ,company announced an allotment of preferential warrants to some FII's and later cancelled this decision too. Hope the promoters and related parties offloaded maximum shares after announcing such positive development to poor retailers . These types of promoters are many in our market .SO BEWARE...

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