Buy Moser Baer, Target Rs 78: Nirmal Bang

Buy Moser Baer, Target Rs 78: Nirmal BangNirmal Bang Research is bullish on Moser Baer (India) Limited and maintained ‘Buy’ rating on the stock to achieve a target between Rs 69-78 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 58.

Shares of the company, on Wednesday (April 22), closed at Rs 62.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 201.30 and a low of Rs 41.10 on BSE.

According to Nirmal Bang report, the structure looks very positive, so buy the stock and hold, if it maintains above Rs 67, a big move is expected.

Moser Baer India Ltd has declared that the company’s board meeting will be held on April 29, 2009, inter alia, to consider and take on record the un-audited quarterly financial results of the Company for the quarter ended on March 31, 2009 (Q4).

Moser Baer India, in March 2009, has repurchased the Foreign Currency Convertible Bonds (FCCBs) issued by it worth a total $500,000.

The company has repurchased 10 bonds of Tranche A amounting to USD 250,000 and 10 bonds of Tranche B amounting to $250,000.

Moser Baer’s PhotoVoltaic arm Moser Baer PhotoVoltaic (MBPV) has big plans to make entry into the US market, and swell its presence in the European market by 2009 end.

Moser Baer India is engaged in the production of recordable compact discs (CD-R), rewritable compact discs (CD-RW), pre-recorded CD/DVD, digital versatile discs (DVD-R) rewritable digital versatile discs (DVD-RW), LightScribe enabled media in its optical storage solutions, compact cassettes, micro floppy discs (MFD), and digital audio tapes for magnetic data storage media solutions.

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