Wednesday, February 8, 2012
I have recommended a BUY on COCHIN MINERALS AND RUTILES @ Rs.78 on 28 October ,2011. ( Old Posting HERE) Yesterday company reported excellent result for the quarter ended December 2011, where its turnover moved from Rs.47 Cr to Rs.72 Cr and net profit vaulted to Rs.19 Cr from Rs.2 Cr . Nine months EPS is Rs.38 v/s Rs.5. Since the price of Synthetic rutile (its main product) is expected to move even higher from current level , CMRL may report good numbers in coming quarter too.Currently CMRL is trading at its lifetime high @ Rs.155/- .Considering the good performance and bright prospects in medium term , recommending a HOLD at current market price.