DATE: 12th August 2007

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TEAM STOCKRESEARCHERS
Delete box, or
add logo, photo, Hidden values research team.
or other image
here. -vinayak
INVESTMENT RATIONALES:

1. The company has come out with extra

ordinary q1 results with
PREMIUM CLIENTS operating profits of 45 cr vs. 31 cr yoy based on
LONG TERM BUY IDEA: the exchange rate gain of
-JAYASAWALS NECO 13 crore.we believe that the exchange fluctuation
gain of 13 cr is
Last Price sustainable in coming quarters also as the
Change company imports coal and coke
BSE 10-Aug 17.85 0.00%
from china.
china.
NSE 10-Aug 17.85 1.38%
TARGET PRICE 12 2. The stock trades at a very low EFY08 PE OF
MONTHS 25,31 2.8 and is a strong
candidate of re-
re-rating.
Market Cap 201.49 Cr 3. There are unconfirmed reports that the
company has land bank in
NSE CODE NAGPURENG
BSE CODE 522285
nagpur and any proposal of shifting of its
manufacturing plant will trigger
the stock for upper circuits.
TEAM 4. The company till FY06 was making net loss.
STOCKRESEARCH The scheme of arrangement
ERS with financial institutions involved dilution of
equity and at every higher
Pvt. Ltd.
3 SUBHASHNAGAR price level the financial institutions namely idbi ifci
CORNER,RAIYA ROAD, and icici offload
offload
RAJKOT, Gujarat, 360007 their stake in the market.
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CONTACT:09327744250
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 5. As the institutions where given
the stake at par value, it is
understood that the financial Delete box, or
institutions will book profits in add a logo,
photo, or other
coming days image here.
also.
6. The company is basically
unknown but is a FY08E 1700 CR
TURNOVER
TURNOVER
AND FY08E 180 Cr operating profit
EXCLUSIVE:
making company. we believe the net
profits for FY08E to be 68
crore.which will give eps above rs 6 THE COMPANY HOLDS 12.76%
per STAKE IN JAS TOLL ROAD
share. The cash eps is around 12. COMPANY LIMITED.

AS Toll Road
Company Limited is an SPV
promoted by M/s Jayaswals group
and SREI
International Finance Limited for
rehabilitation and widening of the
Neelamangala – Tumkur section of
NH – 4, to a 4-
4-lane corridor with
provision
to be made for further widening to
6-lanes. The project is part of the
Golden Quadrilateral project
initiative of NHAI The project cost
at Rs 2217
mn has been financed by equity of
Rs 759 mn from the promoters,
rupee term
loans aggregating Rs 1250 mn, and
an NHAI grant of Rs 208 mn. The
project
was commissioned
commissioned in April 2004
WE HAVE VALUED JNL
STAKE IN THIS VENTURE AT
33 CR WHICH WILL GIVE AN
EXTRA VALUE PER SHARE
OF RS 3 PER SHARE ABOVE
OUR
ESTIMATIONS.MOREOVER
JAS TOLL ROAD WILL BE
COMING OUT WITH AN IPO
VERY SOON AND IT HAS
ALREADY FILED RHP WITH
SEBI. The Group companies and divisions are
ISO 9001 accredited.
Corporate
Corporate overview
The principal customers of the
Foundries are equipped with company are Automobile sector mainly
high pressure molding lines farm
having box tractor manufactures,
manufactures, Railways,
dimensions 800x1200 mm and Engineering industry, Public health
3000x1300 mm. engineering, refineries, Earth moving
and mining equipment manufactures.
The Group has not only
expanded in Foundry business The Business Standard - the largest
but has also diversified selling Indian Business Magazine has
into a number of related and ranked Neco Group as 1st in castings,
unrelated products: 3rd in sales growth,
growth, 24th in profit
growth and 49th in cost Consciousness.
With the technical collaboration
from Shougang International BEST STRATEGY: ACCUMULATE AT
Trade and CMP.THE STOCK WILL SLOWLY
Engineering Corporation, MOVE ON THE HIGHER
China, set up a Blast Furnace SIDE.
for production of
375,000 MT of Pig Iron per
annum. It is operating at more
than 100%
capacity.

Ferro Alloys manufacturing at

Durgapur, West Bengal.
DISCLOSURE: THE FUNDAMENTAL
ANALYSTS HOLDS A VERY SMALL
QUANTITY OF THE COMPANYS
SHARES IN HIS PERSONAL
PORTFOLIO WHICH IS MEANT FOR
LONG TERM HOLDING AND WILL
NOT BE LIQUIDATED IN COMING
DAYS.

DAILY MARKET NOTES AND CHAT

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Kindly have a look on the below mentioned table of

the performance of our long term buy stocks. The
way we take long term investment stocks is totally
different. We will update only if we want that you
book profits otherwise we wont update you for a long
term call as we believe strongly in the fundamentals
of the stock we recommend. The short term targets is
were a trader can book some profits and keep
Prices based on closing of 25 th of july,2007

COMPANY PRICE SHORT HIGH SINCE CMP RETURNS

INITIATED TERM CALL
TARGETS IN % AGE
TANLA 272 600,1000 523 473 74
SOLUTIONS
IND BANK 14 21 ,24 27.50 26.70 90
MERCHANTS
IFCI 11 21,24 64 54 PROFIT 300%
BOOKED AT
34 46 58 63
KOJAM 172 230 250 260 210 45%
FINVEST
BNK CAPITAL 34 62 71 83.20 48.45 100%
TELEDATA 39 76 96.45 69 100%

INFORMATICS
RELIANCE 1280 TARGETS 1931 1912 50%
INDUSTRY ABOVE 3000
HOV 220 260 280 240 180 -22%
SERVICES
ANDREW 25 32 36.9 30%
YULE
BINDALAGRO 36 46,51 46 37 30%
NILE LIMITED 108 135 130 BOOKED AT 20%
125
HOEC 96 135 153 114 40%
PSI DATA 85 115 118 92 35%
SYSTEMS
Jm financial 960 1170++ 1350 1310 35%++
MSPL 18 28,40 29 25 60

The fourteen stocks recommended by us till date has given a return of 70.5%
outperforming the sensex and the nifty by a great margin OF 800% .IN PAST 8
MONTHS NIFTY HAS JUST MOVED FROM 4000 LEVELS TO 4400
LEVELS.JOIN US FOR VALUE BUYS. We advise traders to buy each and every
stock at every dip, as all of them are out performers in there own sectors. All clients
also get portfolio advisory free of cost.

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