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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