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Ahmednagar Forgings Ltd today touched Rs.128.45 before closing at Rs.125.85. Now, the scrip has a book value of Rs.248.05 and EPS of Rs.40.33. Moreover, if we carefully look at the shareholding pattern of the company we would find that Amtek Auto Ltd is holding 64.77% of the shares of the company. Also, the P/E of the scrip is 3.14, while the Industry P/E is 18.25. A reasonable P/E re-rating can take the scrip to around Rs.370-380, in the coming days. Ahmednagar Forgings Ltd manufactures forged automotive components, cold forged parts, and high tensile fasteners primarily in India. It is the second largest manufacturer of forged automotive components in India. Last year, Ahmednagar Forgings Ltd decided to acquire the entire business of First Forge Limited through a Business Transfer Agreement for cash consideration. The Amtek group has acquired a substantial stake in GWK group of UK, Smith Jones of USA and Zelter of Germany.
My Recommended Marg Ltd (BSE Code: 530543) today hit another upper circuits in both the BSE and in the NSE. In the BSE the scrip closed at Rs.7.90, up 4.91%. According to its FY13, Annual Report, Marg Ltd had an order book at around Rs.3,800 Crores. Even its website says: The Group is executing 21 major projects worth more than Rs 3800 crores in varied domains through its EPC division. Major developments include a 1.85 million sq.ft. integrated development – 'MARG Junction Mall' and a unique 23 million sq. ft. integrated industrial and services township, 'MARG Swarnabhoomi'.
There is no stopping of IVRCL Ltd, the scrip touched Rs.14.54, before closing at Rs.14.37. The company has entered into the CDR cell and has a massive order book of Rs.20, 000 crore plus. The scrip, can even touch Rs.31-32, in the next few months time frame, if the new government continues to priority to the infrastructure sector. The company is likely to get benefitted from the recent government proposal of giving some relief to the infrastructure firms. Recently IVRCL Ltd was recommended by Akshata Deshmukh of Networth Capital for a target of Rs 14.90.
Today, my long term recommendation Prakash Industries Ltd hit the upper circuits and closed at Rs.68.70 in the BSE. A few of my clients whose trading I manage (for whom I trade) are holding the shares of the company, since a long time. They would surely be benefited from this move. This scrip should further move up as it could be a major beneficiary, if a NDA led government is formed at the center. I cannot disclose further details here, due to some constraints.
Shree Ganesh Jewelry House (I) Ltd moved to Rs.29.80 before cooling down at Rs.29.20 in the BSE. The scrip is likely to touch Rs.50, in the next few weeks, as it CDR scheme gets approval and the government decides to relax import restrictions on gold. The Commerce Ministry had already voiced their concerns over this and now Finance Ministry has also joined the chorus.