FII stake holding witness a steady and step increase in stock counters
like Rajesh Exports(cmp : Rs95.20) and Core Projects and
Technologies(Rs208). Both are currently trading at attractive price.
Rajesh Exports witness a FII holding of 17% as of 31-mar-08, nearly
10.3% increase in stake of rajesh export when compared to the FII
holding as on 31-Dec-07. Similarly FII has picked up nearly 6.7% in
Core projects as on 31-mar-08 and may further rise in their holdings
as the company posted strong earnings in FY08. Its profit after tax
jumped to nearly 153% for FY08 at 84.48cr Vs 33.37cr for the previous
year and total income up 132% at 452.99cr Vs 185.13cr respectively and
eyeing 950cr revenue for FY09 as they have healthy pipe line projects
in India
Most of the brokerage firms are bullish in rajesh exports. Emkay
securities comes up with a target of Rs 155 and Prime brokerage
updates their target to Rs208.
Market calls also bullish in these counters as both of the stocks are
already recommended in our multibagger section.
Some of the midcap and smallcap counters that witness rise in FII
stake holdings are MC Nally, Prime Focus, Gati, Nucleus Software, ICSA
India & Ks Oils. Do Feel better if you are holding such scripts in
your investment portfolio.
Regards,
Rajandran
Author- Marketcalls
Article composed in my Sony Ericsson mobile phone K550i.
