Stock watch: ICSA INdia

ICSA India stock is attracting attention from large domestic funds of late. The scrip closed at Rs 403.45, 1.67 per cent down compared with its previous close at Rs 410.30 with trading volume of 66,280 shares on Wednesday.

The Hyderabad-based company is engaged in the business for providing embedded technology in the power sector with an aim of reducing losses during distribution and generation of electricity. The stock however ended subdued in Wednesday's trading on overall profit booking in mid-cap stocks.

ICSA India's strength has been in the areas of building infrastructure, implementing the same and providing solutions. The focus area of the company is to do energy audit and map load-flow analysis.

The company has made its presence felt in the customer care and service center and has been providing services in the areas of billing and commercial activities. This helps distribution companies in outsourcing their non-core activities.

" The stock is gaining momentum in anticipation of strong financial performance in the current fiscal. For the full year ended March 2006, the company is expected to report a net profit in the range of Rs 20-25 crore which translates into an EPS of around Rs 40 on the paid-up equity of Rs 6 crore which makes the scrip look attractive," says a senior analyst from a domestic broking firm.

At the present price of Rs 403, the counter has a potential upside in the medium to long term horizon, the analyst added.