TIMKEN INDIA
Friday, October 16, 2009 12:12 pmCOMPANY NAME- TIMKEN INDIA
RECOMMENDATION- BUY FOR TARGET 180-200
Potential Return- 50 to 60 %
COMPANY BASIC INFORMATION
ISIN Id – INE325A01013
BSE Id – 522113
NSE Id – TIMKEN
INDUSTRY – BEARINGS
Market Cap – 851.50
Book Value – 46.60
EPS (TTM)Â – 6.74
Price/Book – 2.87
Face Value – 10.00
P/E – 19.82
Industry P/E – 11.65
P/C – 15.94
STOCK PRICE HISTORY
All Time High – 450.00
All Time Low – 20.00
52 Week High – 136.00
52 Week Low – 49.60
WEEKLY CHART
RECOMMENDATION –
The stock has given a breakout above its supply area of 115 levels in the last week. It formed a Inverted Head and Shoulder Pattern (modern name- Kirloy Bottom) on the weekly chart and finally confirmed the pattern by the upside breakout on the back of huge volumes. We expect the stock to retrace to the neckline i.e. around 115- 120 levels from the current levels, before giving a final trend reversal as they apt to after signaling a breakout. We therefore Recommend a Buy  on the stock around 120 -125 with a closing stop loss below 110 for minimum targets of 180-200 in 2 to 3 month time frame.