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Monday, February 1, 2010

Three turnaround textile counters Bannari Amman Spinning, RSWM and BSL Ltd look good at current levels for promising returns.

Bannari Amman Spinning Mills CMP 101 is the only company in the country manufacturing “quick dry-polyester fleece material with a ‘surface dry’ feature” used for diapers and has very good technical textile division producing a range of specialty products. Buy for target price of Rs200 in medium term.

RSWM CMP 101 is one of the largest producers and exporters of polyester viscose blended yarn in the country. The company’s denim and 46 MW captive power plants have commenced operation.
The Q3 results reflect the enhanced profitability. Buy for target price of Rs 200 over the next few months.

BSL Ltd CMP 29 has an integrated textile unit making polyester/viscose blended fabrics, wool and blended fabrics, premium fabrics and trevira wool fabric. The stock looks stable and is a definite “Buy” for target price of Rs 45.

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All the advises,calls,tips and predictions are neither an offer nor a solicitation to purchase or sell securities.The information and views given by writer is believed to be reliable but no responsibility (liability) is accepted for error of facts and opinion.Writer may be trading in or having positions in stock markets.