yash vagal
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BUY EASTERN SILK

Yash Vagal at 11:22 AM - Oct 28, 2009 ( )

EASTERN SILK INDUSTRIES Ltd. 14.5/-; TARGET 23/- & 29/-

EASTERN SILK INDUSTRIES Ltd. Trading in BSE (Code: 590022) & NSE (Code: EASTSILK) at 14.5/-in B Group. Target 23/- & 29/- for short term & 39/- for Medium Term. Safe Investment at 14.5/ current market situation Because Company Stock Value is very good at 14.5/- Good Dividend Giving Company; Every Year 45% Dividend giving and EPS 2.5/- Company having Good reserves per share 49/-; Book Value at 49/- and Good Land Bank in Karnataka and WestBangal (Per share 65/- Land); Company EPS for 2008-09 was 2.5and Estimated EPS for 2009-10 is 3.

Very Valuable stock at current Market Situation; Market NIFTY will touch 5,250 and Sensex will touch 17,750 within 2 to 3 weeks time. Reasons FII’s are Buying stage; . So use this correction and happily Buy at current price at 14.5/- and sell at 25/- to 35/-. Risk free investment at 14.5/– ; Good Book value at 49/- Strong Fundamentals. Good Land Bank in Karnataka and WestBangal (Per share 65/- Land).

 

Share Holding Pattern:
Promoters Holding 49%, Private Corporates 19% , Public only 27% and Others 5%
EASTERN SILK INDUSTRIES Ltd doing very good, The Kolkata based Eastern Silk Industries Limted is a company with multifaceted business activities. The list of activities Manufacture of Silk Yarn; Fabric & Made-Ups; Home Furnishings; Fashion Fabrics; Handloom Fabrics; Double Width Fabrics; Scarves, Laces & Belts; Embroidered Fabrics .

The present net worth of the company is about Rs 359 crores and it employs over 20,000 people directly or indirectly.

In the year 1958, the export house embarked on its overseas business, with an export turnover of Rs 0.5 lacs. As on date, the export turnover stands at a voluminous figure of Rs 482 crores in the year 2007-2008.

An added glitter in its crown is the number of awards that the company has bagged over the years from various Export Promotion Councils, such as:

- HANDLOOM EXPORT PROMOTION COUNCIL
- INDIAN SILK EXPORT PROMOTION COUNCIL
- CENTRAL SILK BOARD
- MINISTRY OF COMMERCE

The company has been recognized as “Golden Star Trading House” by the Government of India. In the area of self sufficiency the in house Research Wing has successfully developed a technology indigenously of Fast Color printing on fabrics that is the basic need for selling in the overseas market.

Modernization and adoption of new technology has been the watchword of the company down the years.

possitive Points for this stock for Up moving:

1) Company doing very good; EPS 3.5/- Expecting for 2009-10;.
2) Mumbai Bulls and Operators are accumulating at current price. Because Company Strong Fundamentals.
3) Company having Good Land Bank in West Bangal and Karnataka (Per Share 65/-) and Company having Good Reserves 49/- Per share.
4) Book Value at 49/- and Good Dividend paying Company; Every year 45%.
5) Company given very good results EPS 2.5/- PE only 5 for this year 2008-09;
6) Company Projected EPS for 2009-2010 is 3.5/-as per this PE just 4
7) Equity is very small at 15Crores. Good Promoters Holding
8) Lot of expansion plans in Coming soon.
9) company is starting a new plant worth INR 800mn in Bangalore which should be operational from July 2009. Expansion results will come next Quaerter.
10) Very good future for this company

Enter current price at 14.5/- Short term Target 23/- & 29/-Medium TermTarget 39/-Strong Fundamentals.

Happy Investing…


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