dkishore
03-06-2008, 06:54 AM
A falling market invariably sees some amount of bottom-fishing by investors. The shares of packaging company Radha Madhav Corporation, which had lost ground due to selling pressure from India Star Mauritius and another FII facing global crunch, are being lapped up by some investors.
The perception being that the scrip has bottomed out as the selling is over and should provide quick gains. However, Monday saw the scrip fall in line with the broadmarket trend albeit post a strong opening.
Analysts are projecting a PAT of about Rs 40 crore for FY09. The company is expected to post an EPS of about Rs 9 for FY08 on the back of starting of production at new facilities and excise and income tax exemption.
It has set up two units, one in Uttaranchal, with a capacity of 21,000 tonne and the other at Daman with a capacity of 22,150 tonne
The perception being that the scrip has bottomed out as the selling is over and should provide quick gains. However, Monday saw the scrip fall in line with the broadmarket trend albeit post a strong opening.
Analysts are projecting a PAT of about Rs 40 crore for FY09. The company is expected to post an EPS of about Rs 9 for FY08 on the back of starting of production at new facilities and excise and income tax exemption.
It has set up two units, one in Uttaranchal, with a capacity of 21,000 tonne and the other at Daman with a capacity of 22,150 tonne