Fairwell Securities

Buy Call JSW Steel Limited : Fairwealth Securities Limited

JSW-Steel-LimitedJSW Steel Limited (JSWSL) is the second largest private sector steel maker in India. The company provides for a broad range of products which include Hot Rolled Product, Cold Rolled Product, Galvanized Product and Pre-painted Galvanized Product. The company consists of the most modern, eco-friendly steel plants with the latest technologies for both upstream & downstream processes.

KEY INVESTMENT RATIONALE:

Daily Indian Stock Market Outlook: FairWealth Securities

Daily Indian Stock Market Outlook: FairWealth SecuritiesIndian indices had a weak start on affected by disappointed INFOSYS numbers, later good global cues especially from Europe led buying over REALITY and BANKING sector SENSEX closed at 17985, up 48 points and Nifty at 5400, up 17 points from the previous close. CNX MIDCAP index was up 0.72% and BSE SMALLCAP index was up 0.69%. The market breadth was positive with advances 756 against declines of

Buy Man Industries, Target Rs 80: Sovid Gupta, Fairwealth Securities

More terrorism suspects charged in Australia Eds: epa photos available We initiate a buy call on Man Industries with a target price 80 for a period of 1 year. Short term traders can buy this stock for target of 58 in 1 month.

Valuation rational for the company is strong sales growth expectation, stable margins, very strong balance sheet with book value of Rs. 80 per share and value to be unlocked in Real Estate business.

Although results were a huge dampener for the stock, stock has already showed a correction of 12%.

Buy Educomp Solutions; Target Rs 3800: Sovid Gupta, Fairwealth Securities

Educomp SolutionsWith target price of Rs 3800 based on 35x FY10E EPS — We are initiating coverage on Educomp with Buy. At a price of 3800 company will be trading at 54.1x FY09 Earnings 35x FY10E EPS and 24x FY11E earnings. Company trades at trailing PEG to ratio of .5 for FY09, this ratio will decline further to .4 based on current prices.

Our last call on Educomp was in January, where we initiated a buy call on the stock at CMP 1715 with a target of 2750. Earlier in 2008 stock price fell by a huge percentage in 2008 due to rumors regarding company’s accounting policies.




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