Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy KS Oils to achieve a target of Rs 74 in 4-5 trading sessions.

The stock is presently trading around Rs 60-64 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 145 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 58.

Shares of the company, on Friday (June 05), closed at Rs 61.65 on the Bombay Stock Exchange (BSE). The total volume of the shares traded on BSE stood at 4,948,492. The share price has seen a 52-week high of Rs 75.10 and a low of Rs 30 on BSE. Current EPS and P/E of the stock stood at 4.53 & 13.60 respectively.

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.

Other stocks from the same segment that looks good for short-term as well as long-term trading includes Gokul Refoils and Ruchi Soya.