Sharekhan Investor's Eye dated March 26, 2007

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Deadpresident

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Mar 26, 2007, 11:30:57 PM3/26/07
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Investor's Eye
[March 26, 2007] Please see the attachment for details
Summary of Contents

STOCK UPDATE

Bharat Heavy Electricals 
Cluster: Apple Green
Recommendation: Buy
Price target: Rs2,650
Current market price: Rs2,255

Foray into defence equipment space 

Bharat Heavy Electricals Ltd (BHEL) is planning to produce defence equipment, including weapons. It has already applied for a licence to produce defence products. It is likely to manufacture all types of guns, including field guns, air defence guns, and mortars for the Indian defence sector and para-military forces. It has also firmed up plans to produce underwater weapon systems, weapon control solutions and their components.


VIEWPOINT

ABC Bearings

Expansion to drive growth
The bearing industry is expected to grow at a rapid pace of about 15-20% going forward. ABC is expected to keep pace with the industry. To cater to the strong demand, the company is expanding its capacity from the current 6.5 million units to about 8.0 million units by October 2007. The company would be able to do this at a minimal capital expenditure. With technological inputs from NSK it would be able to make all its lines "universal", capable of producing both taper as well as cylindrical bearings. At present, the company is operating at 100% utilisation. 

Regards,
The Sharekhan Research Team
myac...@sharekhan.com  
 

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Investor's Eye-Mar26.pdf
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