Jindal Poly Films may rally to Rs 325-330: Tulsian

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Jindal Poly Films may rally to Rs 325-330: Tulsian

Jindal Poly Films may rally upto Rs 325-330, says SP Tulsian of sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Jindal PolyFilm See messages about Jindal PolyFilm Jindal PolyFilm BSE | NSE 30/05/12 Are Mutual Funds betting on Jindal PolyFilm?

Jindal Poly Films may rally upto Rs 325-330, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "Jindal Poly Films, management has been proactive. Couple of years back in the month of September to December they bought back shares of about Rs 53 crore. If you see their financial performance for FY11 the company posted an EPS of Rs 120, though we know that the company cannot repeat the same kind of performance because of the drop in the packaging film but I am expecting the company to post an EPS of atleast Rs 80 + for FY12 and if you go by its present book value, its close to about Rs 360."

He further added, "So obviously this has been a very positive move that the company is making this surplus cash lying into the books of the company to the extent of about Rs 50-100 crore at frequent interval and this is infact a confidence building measure given by the management of the company so my view is quite positive on the stock. I have been maintaining positive vie though the company is moving into the power business also and the other related but this continues to remain the largest PET and BOPP film maker and I am quite positive on the stock and can expect a price of Rs 325-330 in the near term or may be in next month or so."