BROKER CALL: HDFC Sec puts BUY on Kemrock

BROKER CALL: HDFC Sec puts BUY on Kemrock

Our Markets Bureau / Mumbai April 24, 2006

HDFC Securities expects Kemrock Industries & Exports to record quantum jump in sales to Rs 168 crore driven by new products, fresh technology tie-ups and new customer acquisitions in FY07. PAT could rise to Rs 21.6 crore, resulting in an EPS of Rs 33.8. The stock is available at about 22.7 times FY06 earnings and 7.2 times FY07 earnings.

The report said that "the company is at an inflexion point and has changed gears of its growth. The report recommends that the stock could be added for a price target of Rs 350 in a year