Outlook-Bajaj Hindusthan, JB Chemicals, Graphite India, UFLEX, PC Jeweller, Parabolic Drugs :: Business Line :: Business Line

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Technicals-Bajaj Hindusthan, JB Chemicals, Graphite India, UFLEX, PC Jeweller, Parabolic Drugs :: Business Line

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Query Corner: HDFC Bank, Tata communications, UFLEX, GVK, Everonn, Claris, Ambuja Cements :: Business Line

Technical: IDFC, Power Finance corp, OnMobile, Blue Star, UFLEX, Punjab Sind bank, Corporation Bank ::Business Line

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Please share the long- and short-term prospects of IDFC and Power Finance Corporation.

Jose K. Mathai

IDFC (Rs 140.6):IDFC threatened to go in to a tailspin when it declined below Rs 100 towards the end of last year. But the decline was stemmed at Rs 90 and the stock is powering ahead again. The recent trough can act as the stop for investors and they can also buy on declines with stop at Rs 85.

The medium-term resistance will be at Rs 170. If it gets past this level, it can move on to the long-term ceiling at Rs 220. The stock has already formed a double-top at this level and can struggle to move above it just yet. If it manages to do so, then next target will be Rs 264.

Long-term support below Rs 90 is Rs 44.

PFC (Rs 191.5): The scary plunge in PFC from the peak at Rs 383 halted above the long-term trough formed in October 2008. Investors can draw some comfort at this higher bottom recorded at the recent trough at Rs 131. The stock is also in a strong short-term uptrend from this trough.

UFLEX -Diwali Mahurat Pick by Anand Rathi

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UFLEX

Company believes in innovation to drive up the margins & looking to diversify
in other packaging segments like Polytubes for personal care/Pharma products

It is setting up 52,800 MTs Polyester Film capacity at Mexico; where Phase I of
26,400 MTs is in operation while Phase II of 26,400 MTs has already commenced

Company is also setting up plant in Egypt with 35,000 MTs BOPP capacity plus
30,000 MTs of PET Films & 12,000 MTs of Cast PP film [Phase-II]. Phase
II will be operational by July’11. [$135 mill. expansion]

These expansions will boost the growth going forward and company hopes to
double the top line to $1 bn (Rs.4500 Cr) by 2012

Company may also opt to grow inorganically,by acquiring packaging companies
in US or Europe, to acquire bigger MNC client relationships and reach out to
global markets in future