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Wednesday, July 11, 2012

Tera Software Ltd: Clarification
I think many of you got surprised after finding the names of two Tera Software Ltd on www.bseindia.com. The two have two different codes and one of them is suspended from trading. Let me write both of them here and show you which one is the correct and which one should be discarded after the company obtained the new BSE Code. 
(i) TERA SOFTWARE LTD (BSE Code: 533982)--Correct
(ii) TERA SOFTWARE LTD (BSE Code: 590020)--Discard. 
This has created panic in the minds of some investors, who got confused as which one should be the correct code of the scrip. Now, let me say, you do not have to worry, as both are the same company, Tera Software Ltd. In the new case they have been permitted by the SEBI to trade directly in the Bombay Stock Exchange (a slight change in the earlier rule) and hence the company thought of taking the new facility and discard the earlier listing. 
Therefore, the new code came up and the stock started trading on the bourses without much hassles. Meanwhile, according to my close sources, who refused to be named, the company would file an appeal to the authorities of BSE,to remove the other Tera Software Ltd from the website, as it is creating unnecessarily confusion among the investors/traders. Hence, just invest in this E-governance scrip and make money. The stock today closed at Rs.63.85 up marginally. 
Collectively, the company has an order book of around Rs.870 crores (According to its last annual report) to be executed over next two-three years. During FY12, the company got empanelled with Unique Identification Authority of India, as T2 F4  agency. Under this award of order, the Company is entitled to enroll about  5 (five)  crore  citizens per year. Tera Software net profit rose 42.47% in the March, 2012 quarter.
It has some enviable data to flaunt:
(i) Market Cap: Rs. 79.19 Cr (Considering a close of Rs.63.70)
(ii) Book Value : Rs.66.08
(iii) Price/Book: 0.96 (In case of Infosys Tech Ltd it is 4.75).
(iii) EPS: Rs.16.51
(iv) P/E: 3.83 (Infosys Tech Ltd has a P/E of 16.67 and Industry P/E is 18.33).
(v) Dividend: 20.00%
(vi) Dividend Yield:  3.16%
The stock should be moving above Rs.70, in the next few trading sessions. The stock is even trading below its book value. A modest P/E rating of 12 (twelve) can take the stock to around Rs.170-180 (after giving some discounts) in the coming days. . 
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