EVEREST KANTO CYLINDERS LTD (EKC)
PRICE: RS.138 RECOMMENDATION: ACCUMULATE
TARGET PRICE: RS.150 CONS. FY10E P/E: 21.4X
q Stock down sharply 24% in last five trading sessions - post our SELL recommendation
q Good long term potential on account of increasing gas availability and
various CGD projects
q Due to 9% upside potential we upgrade the stock of EKC to ACCUMULATE
with unchanged price target of Rs.150
Sharp correction in stock price - post our SELL recommendation
Post our SELL recommendation on EKC at Rs.182 on 27th October 2009, the stock
of EKC has corrected sharply by 24% to yesterdays close of Rs.138, within a short
span of just five trading sessions.
