Buy Dunlop With Short Term Target Of Rs 100

Buy Dunlop With Short Term Target Of Rs 100Technical analyst SP Tulsian has maintained 'buy' rating on Dunlop India Limited stock with a short term target of Rs 85-90.

The analyst added that the investors need to hold the stock for a period of 6-8 months to attain a target above Rs 100.

The stock of the company, on January 10, closed at Rs 72.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 138.90 and a low of Rs 49.50 on BSE.

For the three month period ended September 30, 2010, Dunlop India recorded a net profit of Rs 8.21 million as against a loss of Rs 2.62 million during the corresponding period of 2009.

The company's net sales during the said period dropped 15.76% to Rs 501 million.

Dunlop India registered a total income of Rs 501.95 million, down 15.64%, as against the same period of 2009.

Dunlop India Limited is involved in the production and selling of rubber products, which consists of auto tyres, tubes, industrial hoses, transmission and conveyor belting.

During the financial year ended March 31, 2010, the Company's divisions comprised Ebony Commercials Private Limited and Wizer Advertising Private Limited.