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Monday, November 23, 2009

Stock Market Tips - Short Term - Ester Industries

The Company is engaged in the manufacturing and selling of polyethylene terephthalate (PET) and engineered plastics. The Company produces polyester resins of various types having different physical and chemical properties.

Ester Industries is a small cap stock trading at a P/E of 4 at CMP. It's book value at 24 is more than it's stock trading price. It looks good as value stock which could fetch good returns in short to medium term.

Company had declared results for 2008-09 with Income of 372 Cr and Net Profit at 33Cr. As per this EPS cpmes at 6.1.

6 Months results for 2009-10: Income 184Cr and Net Profit was 15Cr as per EPS 5.5/-

Next quarter expansion results will add. So Expected EPS for 2009-10 is 7.5. At this EPS, P/E STANDS AT 3. Industry P/E is around 25.

Short term target price for this stock could be around Rs. 35 - 40.

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