Tuesday, February 22, 2011

Confidence Petroleum India Ltd

CMP 18 Dont buy at this price. Buy below of 17.5 in any market correction.

Also follow us on www.multibaggerpicks.info

For buying in range of 17-18 levels. Collect slowly 60% at 17-17.5 levels and 40% at 16 levels. Also follow us on www.Multibaggerpicks.info

Target 26-27 rs in medium term and 35-40 in long term.

Website : http://www.confidencepetro.com/

Confidence petroleum is mainly in LPG business. It has contract filling station for LPG cylinder for HPCL, BPCL and IOCL. Since use of LPG will not be stopped soon, so growth going ahead is good. Second it is into Auto LPG (ALDS) pumps, where in they supply LPG gas for vehicles. This is on franchise model. They have target of setting up 250 station by end of March 2012. Already having around 58 station running.

Results of the company are good and it posted and EPS of 1.72 for nine month ending dec 2010 against EPS of 0.93 in 12 month in last financial year. We see a EPS of 2.4 approx in this financial year.

FII is buying into the company and also company had raised funds at price of 19 rs per share. Hence any price below 18 is a good buying opportunity with medium to long term view for good gains.

It touched high of 27 and then corrected to 15 levels. Now at 19 rs. Buying should be done in 17-18 range.

If any doubts just mail us at multibaggerpicks.info@gmail.com

Regards

Sanket
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Investment in equity shares has its own risks.Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that I consider reliable. I,however,do not vouch for the accuracy or the completeness thereof.This material is for personal information and am not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.The stock price projections shown are not necessarily indicative of future price performance.The information herein, together with all estimates and forecasts, can change without notice.