Jain Irrigation - Mid Cap Stock Pick

Jain Irrigation - Mid Cap Stock Pick

Jain Irrigation Systems recently said that it has bagged a contract worth Rs36.47 crore for the supply of mango pulp to Hindustan Coca Cola Beverages Pvt Ltd (HCCBPL). The contract has to be completed by April 2005.

Recently, the company's drip irrigation division bagged a Rs38 crore turnkey export order for a project in Africa, spread over a period of 18 months. The company hopes to touch Rs300 crore in exports in FY2004-05 from all its divisions.

The company has business presence in irrigation systems and components, processed food, pipes and pipe fittings, plastic sheets, turnkey services and solar water heating systems.

The scrip has been in the thick of action in recent times on the back of improving order book position and better earnings outlook.

The company reported a net profit of Rs4.47 crore in the quarter ended June 30, 2004, as against a net loss of Rs2.36 crore in the corresponding quarter last fiscal. The total income rose to Rs127.09 in the June quarter of 2004-05 from Rs93.72 crore in the corresponding period a year ago.
Please see attched chart for trading signal, profit targets amd stop loss level.

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As you chart says I am waiting for a correction which the stock is undegoing now!!!

I think this forum has a team of some of the best analysts!!!

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