Hem Securities has maintained its buy rating on ICSA India with a target of Rs 348 in its March 7, 2009 research report.
“ICSA India Limited is keen on acquiring a power firm in the US with an investment of USD 20-30 million. ICSA India Limited has been permitted by the Board of Non-Conventional Energy Development Corporation of Andhra Pradesh Limited (NEDCAP) to set up a 20 MW Capacity Wind power project in Andhra Pradesh. The company has a strong order book position of more than INR 700 Crores which provides a strong visibility to the revenues. The company is trading at a very low PE of around 1.5X. We expect the company to outperform in the future and we reiterate “BUY” on the stock with a Target of INR 348.00,” says Hem Securities’ research report.
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ICSA’s nature of business into Power Transmission and Distribution losses is a great techology of value and highly demanding with zero competition. To me, it appears this stock would cross Rs.1000/- levels in the medium term, and it has unlimited potentials to move upwards beyond Rs.1,000/-. With the change in market scenario and reforms in power and infra, this is a good stock for long term investment. I thought the stock will correct to Rs.140 levels, but a big no. No need to book profits in this stock. One can stay invested and accummulate whenever there is a correction. Best of luck and Happy investing for high returns. Congratulations to young Bala Reddy for his super brain in Research and Deveopment. =Jean GDK, Ph.D.