SHORT TERM INVESTMENT/LONG TERM INVESTMENT

1. MRO-TEK LIMITED (Short Term Target 160-170)

Last traded 99.6 Change 4.70 (4.95%)
Time17 Jan, 16:01 Volume 99901
Prev Close 94.9 Day 's H/L (Rs) 99.6 - 95
Mkt Cap (Rs Cr)206.59 52wk H/L (Rs) 133.25 - 39.00

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PE ratio18.9715/01/08
EPS (Rs)5.17Mar, 07
Sales (Rs crore)33.66Sep, 07
Face Value (Rs)5
Net profit margin (%)9.26Mar, 07
Last dividend (%)2009/05/07
Return on average equity11.62Mar, 07


2. TITAGARH INDUSTRIES LTD (Short Term Target 100-120)

Last traded 63.8 Change 1.50 (2.41%)
Time17 Jan, 15:58 Volume 57330
Prev Close 62.3 Day 's H/L (Rs) 67.8 - 61.25
Mkt Cap (Rs Cr)84.60 52wk H/L (Rs) 84.00 - 24.80

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PE ratio23.7715/01/08
EPS (Rs)2.69Mar, 07
Sales (Rs crore)21.00Sep, 07
Face Value (Rs)10
Net profit margin (%)4.75Mar, 07
Last bonus2:130/09/93
Return on average equity32.66Mar, 07


3. ARTEFACT PROJECTS LTD (Short Term Target 270-300)
(Potential to be a multibagger)

Last traded 171.05 Change 6.35 (3.86%)
Time17 Jan, 15:48 Volume 5521
Prev Close 164.7 Day 's H/L (Rs) 176 - 165.1
Mkt Cap (Rs Cr)69.75 52wk H/L (Rs) 255.25 - 62.80

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PE ratio28.0815/01/08
EPS (Rs)6.09Mar, 07
Sales (Rs crore)5.69Sep, 07
Face Value (Rs)10
Net profit margin (%)11.84Mar, 07
Last dividend (%)7.527/06/07
Return on average equity24.63Mar, 07


4. BATLIBOI LIMITED (Short Term Target 200 - 220)
(Could be a multibagger)

Last traded 107 Change4.45 (4.34%)
Time17 Jan, 15:54Volume16528
Prev Close102.55Day 's H/L (Rs)111.9 - 103
Mkt Cap (Rs Cr)288.9052wk H/L (Rs)140.00 - 41.50

Report card

PE ratio22.1015/01/08
EPS (Rs)4.90Mar, 07
Sales (Rs crore)38.89Sep, 07
Face Value (Rs)5
Net profit margin (%)10.00Mar, 07
Last dividend (%)2025/04/07
Return on average equity32.65Mar, 07



5. ELECTROTHERM (INDIA) LTD
(Short Term Target 600+, Long Term Target 750+)
Carefully look at the annual result. It has potential to be hot stock for 2008. It is into diversified bussiness - blast furnace, steel, steel bar, tower, electric-bikes(YO-Bike). Due to pertrol price hike, its e-bike sales will be boosted. It has already started manufacturing high speed e-bikes from sep'2007 and planning to manufacture electric car and auto ricks.

Last traded 497.2
Change-25.65 (-4.91%)
Time17 Jan, 15:48 Volume12826
Prev Close 522.85 Day 's H/L (Rs) 534.95 - 495.05
Mkt Cap (Rs Cr)454.18 52wk H/L (Rs) 644.40 - 407.05

Report card

PE ratio11.6115/01/08
EPS (Rs)47.30Mar, 07
Sales (Rs crore)268.08Sep, 07
Face Value (Rs)10
Net profit margin (%)5.89Mar, 07
Last bonus1:407/11/95
Last dividend (%)2008/05/07
Return on average equity22.51Mar, 07

INDIAN BANK
Mkt Cap: Rs100.3bn; US$2.5bn Bloomberg code (INBK IN)
Indian Bank has reported strong results in Q3FY08, with a robust growth in net profit of ~61% yoy. The bank's credit-deposit ratio has improved by 810bps sequentially on the back of strong growth in advances during the quarter, coupled with subdued accretion in deposits. The bank is well-placed to enhance the CD ratio further due to its high SLR of ~35% (against the stipulated 25%) and consequent ability to cut deposit rates ahead of its peers. During the quarter, NIMs have expanded by ~43bps yoy to 3.62%, driven by improving CD ratio and contained cost of funds, further aided by expansion in loan yields. After adjusting for the interest income on recoveries estimated at ~Rs850mn, NII growth is above the industry average at ~15% yoy. Another key positive is that the bank has low share of bulk deposits (~9% of total deposits vs. 25-30% for other banks) and has improved the CASA ratio by ~100bps to 35.7%. The bank will significantly benefit from falling interest rates as 40% of its investment portfolio is in AFS and has a longer duration of 3.4 years. Capital adequacy stands at a healthy 13.51% as of Dec '07, with no imminent need to raise capital. Asset quality continues to improve with NPA levels reflecting a downward trend and recoveries strong at Rs4.5bn during Q3FY08. The bank has a superlative return profile with RoA of ~1.7% and RoE of ~22%, highest among PSU banks. The stock currently trades at attractive valuations of 1.6x FY09E and 1.3x FY10E book; recommend Outperformer with a 12-month price target of Rs 320.



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