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Topic: Technical Calls
STOCKWATCH ,HOT HOT HOT 100%
| From : Srilekha Shee at 09:52 PM - Oct 26, 2009 ( ) |
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LOW RISK / HIGH RETURN
HOLDING PERIOD – ONE MONTH PLUS
GREAVES COTTON
Present Price – Rs.205
Projected Price – Rs.248-252
Greaves Cotton Ltd (GCL) is an independent diesel engine manufacturer for the three-wheeler segment in the automotive industry (50% of revenues),
Infrastructure Equipment manufacturer (25% of revenues), Industrial Diesel Engines for power generation (12% of revenues) and Agricultural Machinery
(11% of revenues).
During the quarter the company started supplying twin cylinder engines to Piaggio for its newly launched commercial vehicle. We believe the twin
cylinder engine and single cylinder engine supplies to Tata Motors that is expected to start from December 2009 would be volume growth driver for the
company. With improvement in infrastructure activity, especially road construction and real estate we expect infrastructure segment to bounce back sharply.
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