An Ahmedabad-based equity analyst advises his ends to go long on the counter of Munjal Auto at every decline for medium- to long-term rewards. The company has reported a net profit of Rs. 19.87 crore on a turnover of Rs. 322.82 crore for the first half of current fiscal against a net profit of Rs. 8.98 crore on a turnover of Rs. 223.86 crore for the corresponding period last year. For the entire 2010-11, it had posted a net profit of Rs. 24.83 crore on a turnover of Rs. 519.89 crore. Thus the first half results indicate robust performance for the current year. Free reserves above Rs. 101 crore against an equity capital of Rs. 10 crore makes it a bonus candidate as well, says the analyst.
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