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Sunday, March 14, 2010

Sokhi PICK OF THE WEEK : APM Ind. Ltd. (Rs. 40.00) (Code : 523537)

After reporting handsome results in 9 months, APM should report still better earnings in Q4 as, yarn prices have again gone up. Due to improved prospects, yarn industry is catching fancy of the investors and in the same, APM appears one of the cheapest scrips considering the following:

Stock is trading at 2.56 x FY10E EPS Stock is available at 2.36 x FY11E EPS CMP is 0.42 x FY10E Book value Stock is available at 1.55 x FY10E Cash EPS and 1.48 x FY11E Cash EPS Market Cap
is only Rs. 17 cr. whereas estimated cash profit of 2 years can be Rs. 23 crs. Looking at high Book Value, APM may announce its maiden bonus issue.

APM Industries is grossly underpriced at current levels. Buying recommended as, scrip can give 40-50% appreciation in less than 6 months.

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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.