Technical Call: MGEI Industrial Systems – CMP 70, Target 95-100
MGEI Industrial Systems offers heat transfer equipment, finned tubes, and components for oil, gas, power, and compressor businesses. The stock is currently trading at Rs 70 and it has shown good results in FY08, which gave a growth of 50.43 per cent in the topline and 73.58 per cent in the bottomline respectively. Besides, the company has already received an order of Rs 30 crore from Essar Construction (India) for a refinery expansion project in Vadinar, Gujarat. According to sources, informed investors are accumulating this stock, as the company is expected to receive good business orders in the coming months. The stock can be looked at for short to medium-term investment as there is a possibility of this counter gaining momentum. According to a technical analyst, the scrip could see prices heading towards Rs 95-100 levels. Investors can think of taking exposure in this counter.
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can u plz provide the scrip code of this share ….