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Get 50-100% profit in Indian Hume Pipe
Investment Analyst, S P Tulsian, is of the opinion that the manner in which Indian Hume Pipe is selling its land, the investors will see an appreciation of 50-100% in the stock price in the coming year.
Investment Analyst, S P Tulsian, is of the opinion that the manner in which Indian Hume Pipe is selling its land, the investors will see an appreciation of 50-100% in the stock price in the coming year.
Tulsian told CNBC-TV18, "Indian Hume Pipe has plants at 70 locations. Their policy is to sell the land which will fetch them a higher price. In FY04, it earned a profit of Rs 35 crore (Rs 350 million) by selling the land. In FY05 the company earned a profit of about Rs 16 crore (Rs 160 million). The company is likely to sell its lands for the coming five years. A reasonable target of around Rs 8-10 crore (Rs 80-100 million) profit on yearly basis after selling the land is expected of it. The company has issued two shares as a bonus on three shares. Its equity has increased from about Rs 3 crore (Rs 30 million) to Rs 4.80 crore (Rs 40.8 million). Its working EPS comes out to be Rs 25. If you have a long term outlook, then be invested. You will get a 50 to 100% profit in the coming year."
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