1 more target achieved (almost) - UNIVERSAL CABLES

When I had given the below call on July 15th and the stock's price tanked after a few days, several group members were concerned and I had requested them to have patience.

 

Well that patience has paid off. Universal Cables is very near my target. CMP is 124.1

Book 75% of profits here and hold on to the rest for a target of 135.

 

From: powerfulpicks-owner@yahoogroups.co.in
Sent: Thursday, July 15, 2010 11:35 AM To: powerfulpicks@yahoogroups.co.in
Subject: [powerfulpicks] BUY: Universal Cables (MP Birla Group Company) at 100 for TGT of 126 in 9 month

 

Universal Cables is a MP Birla Group Company; the company management has settled down after the searing feud in the last couple of years (remember Lodha-Priyamwada Birla story?). Lodha's son is an MBA from abroad and is a very capable executive and is currently in charge of the company. Power and infrastructure is going to be the investment theme for the next 2 years in India, electrical cable companies like Universal Cables, will stand to gain hugely. Stock is showing signs of breaking free deep into the 3 figure price mark. With a low P/E and low P/BV ratio, the stock is still cheap. Buy at and below 100 for a 9 month target of 126 (minimum gain of 26%).

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