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(From Business Line)
from BUSINESS LINE, September 11, 2005 SHAREHOLDERS can consider retaining their holdings in the Jindal Saw stock. Despite the stock's sharp run up over the last three months, we believe there is scope for appreciation in the medium term. A diversified product mix, robust demand from user segments, improved financial profile and a strong order book position augur well for its growth
At its current price, the stock trades at about 13 times its expected FY 05 earnings. Although it is richly valued, we believe that the premium is justified considering its positioning in the growing sector of saw pipes used in energy transportation