COMPANY NAME – ABHISHEK INDUSTRIES

RECOMMENDATION – BUY
PRICE TARGET – 20

COMPANY BASIC INFORMATION

ISIN Id – INE064C01014
BSE Id – 521064
NSE Id – ABSHEKINDS
INDUSTRY Textiles – Spinning – Cotton Blended
Market Cap – 325.96
Book Value – 20.09
EPS (TTM) – 2.20
Price/Book – 0.73
Face Value – 10.00
P/E – 6.67
Div(%) – 0.00
Industry P/E – 17.92
P/C – 1.98
Div Yield (%) -

STOCK PRICE HISTORY (NSE)

All Time High – 43.70
All Time Low – 3.50
52 Week High – 19.35
52 Week Low – 6.25

WEEKLY CHART:

Recommendation-

The Counter at current has retraced around 50 % of its previous up move from 8 to 19 and has now finding support at its 200 DMA. The Price Pattern is also forming a sort of rounding bottom with activity very bleak during the preceding reaction and now starting to pick up on rallies.  The stock is trading just above its break away gap formed during the July 2009 breakout and is constantly acting as demand zone. We expect the stock to resume its primary intermediate uptrend again and therefore recommend a Buy on the stock with closing stop loss below 12 for target of 20.