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Thursday, April 8, 2010

Mid Cap Stock Analysis - Gujarat Alkalies & Chemicals

Firstcall equity investment research team has recommended to hold stocks of Gujarat Alkalies & Chemicals.

Gujarat Alkalies & Chemicals has a price target of Rs 145 as against the market price (CMP) of Rs 125.70 in its report dated Apr. 06, 2010.

Gujarat Alkalies & Chemicals Ltd has informed that Credit Analysis & Research Ltd (CARE) retained rating of ``PR1+`` for Company`s Short Term Debt Programme / Commercial Paper (STD / CP) for an amount up to Rs. 1billion for one year.

At the current market price of Rs.125.70, the stock trades at 8.12 x FY10E and 6.91 x FY11E respectively. Price to Book Value of the stock is expected to be at 0.68 x and 0.62 x respectively for FY10E and FY11E. Earning per share (EPS) of the company for the earnings for FY10E and FY11E is seen at Rs.15.48 and Rs.18.19 respectively. On the basis of EV/EBITDA, the stock trades at 3.23 x for FY10E and 2.88 x for FY11E.

Stock investment research team of Firstcall recommends to `HOLD` this stock for a Target Price of Rs.145.00 as the final verdict from stock broking house.

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