Thursday, 8 November 2007

Re-enter IFCI

Both Sudarshan Sukhani and PN Vijay are of the opinion that this stock can be reentered at the current price for short term. I had given this recommendation when the price of this stock had fallen to Rs 77.

CMP: 83.60

Shiv-Vani Oil

Sharekhan has maintained a buy rating on Shiv-Vani Oil and Gas Exploration Services. They have given a target of Rs 480. This is an extract out of their report ."Shiv-Vani Oil & Gas Q3CY2007 results were ahead of our expectations. The order inflow was also healthy as the company has received orders of around Rs400 crore over the last three months and the order backlog has grown to over Rs 3,000 crore. The outlook for Q4 is encouraging with the commencement of the much-awaited Rs650-crore coal bed methane (CBM) project awarded by Oil & Natural Gas Corporation (ONGC). At the current market price the stock trades at 11.1x CY2008 and 8.7x CY2009 estimated earnings. We maintain our Buy call on the stock with a price target of Rs 480.”

CMP: Rs 380

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.