To start off with, this stock is in the drilling sector which is one of the current flavors of the market.
Asian Oilfield Services:
Year ending March '05 saw Total Income of 7.96 crores which translated into net profit of 0.32 crores.
March '06 - total income 10.40 crores and Net profit 0.62 crores.
This is a growth in income of 30.65% and in net profit of 93.75 crores.
Year end March '07:
Total Income - 27.69 crores - growth of 166.25% over last year.
Net profit - 4.58 crores - growth of 638%.
Since the past 3 months, the stock has gone from a low of around Rs. 40 to a high of 116. This is a movement of about close to 200%. However, I believe the stocks is nowhere near its true value and the best is yet to be seen.
Technically the stock made an all time high 119.25 but failed to close above the previous high of 116.25 which could act as resistance. The stock however, has moved up on 20/07/2007 on good volumes and hence the resistance of 116.25 should be surpassed easily and move on to a target of 140.
On a close above 116.25, buy for a target of 140.
On a fundamental basis, the longer term target would be in excess of 200.
Regards,
Yasir.
N.B. I do not hold any position in this stock at present but intend to buy on 23/07/2007.
Asian Oilfield Services:
Year ending March '05 saw Total Income of 7.96 crores which translated into net profit of 0.32 crores.
March '06 - total income 10.40 crores and Net profit 0.62 crores.
This is a growth in income of 30.65% and in net profit of 93.75 crores.
Year end March '07:
Total Income - 27.69 crores - growth of 166.25% over last year.
Net profit - 4.58 crores - growth of 638%.
Since the past 3 months, the stock has gone from a low of around Rs. 40 to a high of 116. This is a movement of about close to 200%. However, I believe the stocks is nowhere near its true value and the best is yet to be seen.
Technically the stock made an all time high 119.25 but failed to close above the previous high of 116.25 which could act as resistance. The stock however, has moved up on 20/07/2007 on good volumes and hence the resistance of 116.25 should be surpassed easily and move on to a target of 140.
On a close above 116.25, buy for a target of 140.
On a fundamental basis, the longer term target would be in excess of 200.
Regards,
Yasir.
N.B. I do not hold any position in this stock at present but intend to buy on 23/07/2007.
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