Buy Jain Irrigation With Stop Loss Of Rs 184
Technical analyst Nikita Surekha has maintained 'buy' rating on Jain Irrigation Systems Limited stock to achieve a target of Rs 197-200.
The analyst said that the stock can be purchased with a stop loss of Rs 184.
The stock of the company, on March 23, closed at Rs 184.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 264 and a low of Rs 158.10 on BSE.
Current EPS & P/E ratio stood at 6.82 and 27.41 respectively.
The promoter group of Jain Irrigation Systems Ltd are instilling around Rs140 crore in their company, which will lift up promoter stake in the company in a marginal manner.
The sums of money were credited in Jain Irrigation's specified account on 23 March 2011.
Jain Irrigation Systems has posted net profit of Rs 714.70 million for the quarter ended Dec. 31, 2010 where as the same was at Rs 573.60 million for the quarter ended Dec. 31, 2009, registering a rise of 24.60%.
Total income increased 14.91% to stand at Rs 7,365.70 million for the quarter ended Dec. 31, 2010 where as the same was at Rs 6,409.70 million for the quarter ended Dec. 31, 2009.