Tuesday, July 22, 2008

Stock Update - Bihar Caustic - Q1 Results

I had in my earlier post recommended Bihar Caustic. The company announced its Q1 results yesterday and the results were on track or better than expected.

Sales and net profit grew by 11% on a trailing quarter basis. On a year on year basis the growth is very impressive. The company should clock a EPS of over Rs 20 for the year and should increase book value to over Rs 100 per share.

The stock is available at a PE of 3 and closed yesterday at Rs 68.

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