In its latest research report, Nirmal Bang, an equity research firm said that KS Oils Ltd, which presently stuck in a band of 52-56, can give good returns in the short run.

The report further stated that, if the counter is successful to breach 67, then it will create a huge breakout.

Nirmal Bang Research has advised its clients to hold the scrip with a target price of Rs 75-85.

In addition, the firm has suggested a support level for the scrip at Rs 57.

Today (June 18), the stock opened at Rs 60.90, as against its last closure of Rs 60.55 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 4.90 and 11.84 respectively. The share price has seen a 52-week high of Rs 75.10 and a low of Rs 30 on BSE.

K S Oils, one of South Asia’s top integrated agri-companies, has declared fresh private equity, GDR and promoter investments worth Rs 4.50 billion from three worldwide private equity companies including New Silk Route Advisors, Citigroup Venture Capital International and Baring Private Equity Asia.

The funds will be utilized in strengthening the company’s palm plantation assets in South-East Asia.

For the three-month period ended March 31, 2008, K S Oils announced a growth of 19.82% in its net profit. During the period, the company’s net profit stood at Rs 481.70 million, as against Rs 401.90 million during the corresponding period last year.

Net sales during the quarter increased 33.36% to Rs 8,988.90 million, whereas total income surged 32.46% to Rs 9,010 million.

The company announced EPS Rs 1.35 per share during the quarter.

During April 2009, the company said that it will drive its global expansion via its fully-owned Singapore based arm K S Natural Resources (KSNR).

K S Oils is a top integrated edible oil company and is the trusted name behind well-known brands including Kalash, Double Sher, K S Gold, among others.

Presently, it possesses 7% market share in the entire mustard oil sector with a leading 25% market leadership in branded mustard oil.