08 October 2011

BUY Jain Irrigation Systems (JAIR.BO) Research Tactical Idea ::Morgan Stanley Research,

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Jain Irrigation Systems (JAIR.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 30 days.
This is because the stock has traded off recently, making short term valuation much more compelling. We expect
improvement in capital effeciency in the quarter, driven by reduction in receivable day in micro irrigation business, to act
as a key near-term catalyst.
We estimate that there is about a 70% to 80% or "very likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: Attractive

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