The trades are reportedly carried through different stock brokers like India Bulls, Kotak Securities, JM Financials. Most of the sale orders were executed in early morning trades when PSTL shares were under upwards freeze.

PSTL saw good buying on the news that SEBI has written to the company to make open offer at Rs.250 when the share price was trading at Rs.80. but the share price has lost nearly 50% since the company has denied the receiving any letters form SEBI.

Following is the sectoral indices performance for 6-Jan-2009 as per bse web site.

BSE SENSEX closed at 10355.93 up by 60 points.

Sectoral Indices

This bunch of stocks which was picked on 26-12-2008 with investment view has already given great returns. The Nifty stood on that day 2857.25 and closed at 3112 on 6-Jan-2009 there buy generating returns of 9%

Alstom Projects which was recommended on that day to invest at 223.9 has closed at 275 there by give 23% returns. All nine stock which were picked gave more the 10% returns.

Investors who have bought these shares can hold for some time as current market trend showing strength.

The markets closed at 10335 up by 60 points. Markets analysts feel the market may test 10600 which is resistance level, once the market cross this hurdle the Sensex may test 11400 levels.

In today’s market buying was seen in shares of Banking, Metal, Cement, and Reliance Industries, even Satyam computers saw good amount of buying. But, shares of telecom, power, real estate companies as well as SBI, TCS and L&T were under pressure.
The Nifty closed at 3112.80 down by 8 points.

Nifty Closed at 3121.45 adding 74 points and SENSEX closed at 10275.60 adding 317 points.

Traders feel the market may gain further upside as the Nifty was facing some resistance at 3100. As soon as the Nifty crossed 3100 mark market saw sudden spike based on short covering.

Board Meetings

Â

Corporate Actions in Jan 2009

The company’s main strengths lie principally in area of, the design and manufacturing of industrial equipments, and management and execution of air conditioning and public work projects. In it’s engineering division the company caters products and services to the Textile industries and mining & construction equipments,

The Company in its results for Q2 FY2009 ahs reported Sales / Income from Operations an increase by 29% to Rs.931 crores, as against Rs.722 crores in the same period last year.  Operating Profit has increased by 28% to Rs.89 crores as against Rs.69 crores in the same period last year. Profit after Tax increased by 16% to Rs.62 crores, as compared to Rs.53 crores in the same period last year.

The Company’s Electro-mechanical Projects and Services segment’s revenues grew by 40%. The Order Book of this segment stands at Rs.5575 crores, registering a   growth of 107%.

The Engineering Products and Services segment’s revenues grew by 21%, despite a slow down in demand for capital equipment.  Mining & Construction Equipment business achieved 40% growth in sales, over the corresponding period, last year.
Â
The company share price which has fallen more than Rs. 200 from its 52week high of Rs. 261 to current market price of 61 is currently trading at attractive PE  compare to its pears. And the stock which has been recommended by most of the stock brokers and fundamental analysts if good pick at these level and can scale to higher levels in a years time.
Â

The company has done projects across the world, the Group continues to provide integrated design, engineering, procurement, and construction and project management services for the energy, infrastructure and petrochemical sectors. From pipelines, tanks and terminals to refineries, power plants to renewable, airports, rail transit systems to expressways, the Group can offer EPC solutions across a wide spectrum of businesses.

The company has recently singed MOU with Thorium Power Ltd, The MOU establishes a framework to explore and identify the strengths of Thorium Power in areas of the deployment of Thorium Power’s nuclear fuel designs in India, Southeast Asia and other territories; to expand consulting activities for the development of nuclear power generation regionally and worldwide; and to pursue the establishment of a joint venture between Thorium Power and Punj Lloyd to best capitalize on the emerging nuclear renaissance. 

In the Q2 FY2009 company got more orders for leading companies like, Qatar petrochemical, GVK Power. The company also won it’s first drilling contract in Libya. The company’s order book stood at more than 21000 crore at end Q2. As per the company statement the 28% of order book is from South Asia and 26% from Middle East, 37% form south East Asia and Asia pacific.

The company announced following numbers in its Sep 2008 (Q2) quarter.

Total revenue of the company have gone up by 53% to Rs2954 crore. The net profit after tax of the company has shown increase of 60% to Rs. 144 crore. The EPS of the company stood Rs. 4.94 for Q2 FY2009 and Rs 8.44 for half year. Also the EBITA of the company has been showing consistent growth to the tune of above 75%.

The company has been trading in the range of 120-140-170 and at current market price the company is trading at around 11 times of last yeas EPS of 12.65 and the company has already reported 8.44 for first two quarter. The stock price of the company had heavy correction along with the entire market, looks good the current market price.

On Technical charts the company made its 52 week High of Rs 656 and low of 127.40, if showing consolidation formation and trading in the range of 130-180 range the stock huge support at 140 levels, Rs 140 has been acting as support when the stock is trading above 140 and as  resistance when the stock is trading below 140. In my view the stock may reach 250-300 range in year’s time. Investors with long term view can invest in this stock.

Cairn has mainly operating its exploration business in Rajasthan, in 2004 the company made one of the largest oil discoveries in India. Recently company also made oil and gas discovery in Rajasthan,

The company has announced following numbers in its Sep 2008 quarter results.

The consolidated Profit before tax for Q3 2008 was Rs. 3,600 million (US$ 82.5 million) and for Q3 2007 was Rs. 674 million (US$ 16.6 million).

The consolidated Profit after providing for tax (including deferred tax and FBT) for Q3 2008 was Rs. 2,933 million (US$ 67.2 million) and for Q3 2007 was Rs. 232 million (US$ 5.7 million). Tax (including current tax and deferred tax) is calculated at entity level and not on a consolidated basis; losses arising within one jurisdiction are not available for offset against profits arising in another.

The Companies stock price made its life time high of Rs.342.70 when crude oil touched record high, and has treaded as low as 88.20 in last 52 weeks. Now the company trading in trading range of 140-170, at current market price the stock is at higher side of the trading range, investor with long term view can buy the stock for target of 300+ in years time.

With company making new oil and gas discovery and crude oil prices getting consolidating around the 38-48 mark the company can make good profits going forward.