Buy Tata Chemicals target 353

Sharekhan has recommended for hold Tata Chemicals share with a target of price 353 in its July 1, 2010 research report. ( nse bse tips)

Our technical view on this stock

Tata Chemicals having a support in 310,300 level. If this stock close below 300 it will down up to 280 level. It is having a resistance in 340, 354 price level.

Tata Chemical is in a bullish trend so buy this stock for long term investment. only exit when this stock close below 300 level.

Fundamental view

	Mar-09	Jun-09	Sep-09	Dec-09
Non promoter holding shares	166421288
Reserve surplus	0	0	0	0
Calculated EPS current unit	7.3	4.01	7.05	4.36
Extra Ordinary Items	0	-33.38	46.59	-14.77
Deferred Tax	0	0	0	0
Tax	74.49	39.17	30.44	51.49
PBDIT	364.99	227.33	299.96	252.85
Calculated EPS adj ann current unit	29.2	16.05	28.19	17.45
Book value current unit	0	0	0	0
Calculated EPS ann current unit	29.2	16.05	28.19	17.45
Depreciation	47.72	46.71	47.84	49.5
Other Income	21.9	39.76	128.69	8.75
PATM	16.99	6.77	13.25	6.74
EPS current unit	7.3	4.01	7.05	4.36
Reported Profit After Tax	171.74	94.36	165.76	102.64
Interest	73.02	47.09	55.92	49.22
Net Sales	1010.8	1393.6	1250.69	1522.89
Excise Duty	29.59	25.6	23.57	23.9
PBTDM	28.89	12.93	19.51	13.37
Equity	235.23	235.23	235.23	235.23
EPS Adj current unit	7.3	4.01	7.05	4.36
PBDT	291.97	180.24	244.04	203.63
Calculated EPS adj current unit	7.3	4.01	7.05	4.36
Face value	10	10	10	10
Dividend	0	0	0	0
Total Expenditure	704.65	1253.2	1085.67	1297.75
Total Income	1069.64	1480.53	1385.63	1550.6
Adjusted Profit After Extra Ordinary Item	171.74	127.74	119.17	117.41
PBIDM	36.11	16.31	23.98	16.6
Gross Sales	1040.39	1419.2	1274.26	1546.79

Tata Chemicals’ share has moved notably up in the recent past in wake of positive news flow such as the re-imposition of the safeguard duty on Chinese soda ash imports and expectations of a normal monsoon this year. The re-imposition of the safeguard duty puts to rest concerns relating to the domestic soda ash demand and pricing for Tata Chemicals.

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