WINNING STROKES: THINK DIFFERENT:
Refex Refrigerants Ltd hits the buyer freeze in the late afternoon trade. The scrip was recommended in this blog, last week for a price target of Rs.32-39. The season of the company is going on and the company has ventured into a new line of business. In FY11, the total revenue of the company was Rs.82.39 Cr, while the net profit of the company was Rs.7.23 Cr as against Rs.52.70 and a net loss of Rs.16.37 Cr in FY10. The EPS of the company for the FY11 is Rs.4.67 and CEPS of the company is Rs.6.31--this should give a minimum price of the scrip of around Rs.32-39, giving all discounts
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