SJVN has come out with excellent numbers for Q1. Despite of no addition of capacity, Sales have improved from 524.98 Cr to 553.57 Cr. Interest cost has reduced from 38.98 Cr to 27.84 Cr and Other income have been boosted from 22.79 Cr to 52.61 Cr. Overall, it resulted in rise of net profit from 290.76 Cr to 348.21 Cr and an EPS of 0.84 from 0.70 year back. It appears Co is all set to post an EPS of 2.5 Rs/share for this fiscal. Anticipating good results the stock had rallied in advance and now is trading above 200 DMA of 22.15 but looks like it will be difficult for stock to hold about 23 in short run. I booked some profit today @ 22.9 to reduce my cost of holding. I hold now 2500 shares @ 21.43. Will add 500 shares more if it comes back to 20-21 band.
See Previous Link on SJVN here
http://indianstocktechnicalfunda.blogspot.com/2011/07/sjvn-long-term-investment.html
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