TARGET MET: Salona Cotspin

SALONA crossed my target and touched its 52 week high of 41 today; with nearly 39% profit in just 2 months, it is time to book profits. Please do so...

On Mon, Sep 13, 2010 at 11:46 AM, POWERFULPICKS wrote:

powerfulpicks stock search: Salona Cotspin is trading near its 52 week high of 30.55. Buy this script on dips around 29.5, since there is lot juice still left in the stock. The company posted nice profits during March 2010 and it is expected to continue the same growth story this year too because of higher demand from Western countries, owing to a fallout with the textile industry in China. A re-rating in textile space has been going on for some time and powerfulpicks had picked up quite a few gems like Siyaram Silk Mills, Bombat Rayons in the recent past.
Salona Cotspin is based in Tamil Nadu and manufactures cotton yarn (41% of its turnover) and Knitted fabrics (39% of its turnover). A capacity expansion from 21744 to 24336 spindles is on the cards. They are also planning to reduce input cost and reduce the risk from power cuts in Tamil Nadu by planning on generation of power from wind energy. BUY AT 29.5 FOR A 12 MONTH TARGET OF 40 (+35%)