Sunidhi Securities views on Balaji Amines, Visaka Industries

Balaji Amines - Target of Rs 100


Sunidhi Securities & Finance has recommended a buy rating on Balaji Amines with a target of Rs 100 in its November 24, 2008 research report. "During Q2FY09, sales have advanced by 43 per cent to Rs 71.6 crore, net profit has surged by 85 per cent to Rs 6.7 crore. BAL has emerged as the lowest cost producer of methyl amines in the world and regularly supplies its products to BASF, Clariant, Glaxo, Merck, Wyeth, Tera Group, Helm AG and Indian majors like Dr Reddy’s, Ranbaxy and Sun Pharma. At the CMP the share is trading at a P/E of 2.6x on FY09E and 2.1x on FY10E. We recommend BUY with a medium to long term target of Rs 100," says Sunidhi Securities & Finance's research report.



Visaka Industries - Target of Rs 55



Sunidhi Securities & Finance has recommended a buy rating on Visaka Industries with a target of Rs 55 in its November 24, 2008 research report. "During Q2FY09, sales have gone up by 27 per cent to Rs 121 crore on whereas net profit was placed at Rs 7 crore against net loss of Rs 2.7 crore in Q2FY08. At the CMP of Rs 36, the share is trading at a P/E of 1.8x on FY09E and 1.5x on FY10E. We recommend BUY with a medium to long term target of Rs 55," says Sunidhi Securities & Finance's research report.