Summary:
| Scrip | Group | Scrip Code | Price 21-Sep |
| BASML | B1 | 532674 | 96.60 |
| CAIRN | A | 532792 | 178.30 |
| IL&FS | B1 | 511208 | 220.55 |
| LLOYDSTEEL | B1 | 500254 | 13.15 |
| PENINLAND | B1 | 503031 | 596.25 |
Bannari Amman Spinning Mills Limited:
BASML has two divisions viz. spinning and weaving. The spinning division has an installed capacity of 29,232 spindles while weaving division has 28 projector wider width looms. These are located at Dindigul and Coimbatore respectively in Tamil Nadu. The spinning division mainly produces hosiery yarn for knitting market while weaving division produces 100% cotton fabrics.
The company’s net profits were Rs.5.08 crores for the first quarter ended June 2007.
After its listing, the stock lost 64% between November 2005 and June 2006 i.e. it fell from a high of 175 to a low of 63. It however, bounced back and made a high of 138.90 last November. But it has once again fallen back near support levels by recording a low of 63.60 in the first week of July 2007. An intresting bullish “three outside up” candlestick pattern has been formed in the weekly chart of the stock as shown above. This appears after the two “hammers” shown. The hammer, when appears in a downtrend, indicates that the market is bottoming out. Now we have an engulfing pattern followed by a higher close. The technical targets for the stock are110 and 139.
Cairn India Limited:
Cairn India Limited has been promoted by Cairn Energy PLC of Scotland. It is involved in oil field exploration, development, production and sales. Cairn has so far discovered 30 hydrocarbon blocks, onshore, shallow and deep offshore. It operates the largest private sector Indian oil producing field – Mangala in Rajasthan. Cairn India has two processing plants, 11 platforms, 200km of sub-sea pipelines and three of its oil fields produce more than 80,000 barrels equivalent per day. The company reported a net profit of Rs.37.6 crores for the quarter ended March 2007.
The stock’s issue price was Rs.160 and it got listed on January 9, 2007. It could just manage a high of 162 on the week of listing. It made a low of 111 in March. This week, the stock had closed above 164.70 (high during July) with reasonably good volumes. Medium term target for the stock works out to 218. Support exists at 134.50.
IL & FS Investment Managers Limited:
IL&FS Investment Managers Limited is the private equity investment arm of Infrastructure Leasing & Financial Services Limited (IL&FS). The company manages over US$ 900 million on behalf of leading Indian and international institutions and it is one of India's largest domestic private equity fund management companies.
It has the expertise in funds raising, management, investing, restructuring etc. It declared a net profit of Rs.5.87 crores for the quarter ended June 2007.
The stock was moving in a “rising channel” pattern for more than 6 months. The prices fluctuated between two parellel trendlines which have positive slopes i.e. moving upwards. It can be seen from the chart that during this week, the stock has managed to break this channel and close above it. There is also an upward gap, which indicates the strong demand for the stock. Technical target for the stock works out to 325 for the medium term.
Lloyd Steel Industries Limited:
Lloyd Steel Industries are manufacturers of steel and related products like hot rolled coils, cut to length sheets, plates, galvanized coils, pipes, etc. Its manufacturing plants are located at Wardha, Murbad and Ghugus. The company’s net profits for the first quarter ended June 2007 were at Rs.2.16 crores.
The stock had a real tough time in the last two years, as it fell from 24.30 to 6.90. It made a high of 12.35 during January 2007 and, after an eight month consolidation pattern, the stock has broken out a couple of weeks ago with good volumes. Next resistance exists at 16.40; 61.8% retracement works out to 17.65. If the stock closes above this, we can expect it to test the previous high.
Peninsula Land Limited:
Peninsula Land Limited was formerly known as Morarjee Realties Limited and is a leading real estate developer in India. It has developed approximately 3 million square foot of real estate property and another 20 million square foot is in various stages of planning and development. Peninsula’s projects include Crossroads, CR2, Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Ashok Towers and Ashok Gardens. It is also in the process of developing 3 special economic zones in Goa. The company has declared a net profit of Rs.3.35 crores for the first quarter ended June 2007.
The stock was hit badly during last year’s huge correction between May and June as it fell from 968 to 285. During bounceback, it touched 757 only to return to 303. It has started forming higher and higher lows and the resistance trendline has been broken. The support trendline too, holds well. This week, it has managed to close above 579.90, its previous peak in first wave. The stock can be expected to test its previous resistances at 757 and 968.