Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Buy Patni Computers in Short Term : Patni Buy Back Shares @ Rs 325

57 sec read

Script : Patni Computers
CMP : Rs269
Target : Rs320
Reason : Patni Computers to Buy Back Shares
Upside : 20% surely guarenteed
 
India-based Patni Computer Systems Ltd  posted net income for the fourth quarter at US$25.3 million, or Rs.997.2 million, 1.7% lower than US$25.7 million, last year.

Earnings per share for the quarter were unchanged from the prior year at US$0.18 per share, or US$0.36 per ADS.

On average, eight analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.26 per share for the quarter.

Revenues for the quarter stood at US$174.1 million, Rs.6,861.9 million, 12.9% up from US$154.3 million in the prior year.

Seven Wall Street analysts had a consensus revenue estimate of $ 170.59 million for the quarter.

 

The company also announced that its Board has recommended an annual dividend of 150%, as well as the repricing of outstanding Employee Stock Options at current market price.

The Board has also approved a share buyback program in the open market purchases on the Indian Stock Exchanges, with prices up to Rs.325 a share, for a total purchase up to US$60 million.

Looking ahead to the first quarter of 2008, the company expects revenues to be between US$175 and US$176 million.

Net income, excluding the foreign exchange gain/loss, is estimated to range from US$ 15.5 million from US$16 million.

Analysts, on average, expect the company to earn $0.34 per share on revenues of $ 176.08 million for the quarter.

 

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Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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