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Bharati Shipyard my top pick

rakeshseth's picture
Submitted by rakeshseth on December 18, 2009 - 05:30

Impressive order book of 5000 Cr and stake in Great offshore apart from good earnings , all is very well at Bharati shipyard. Ship building is not my favorite sector simply due to big link on global economy. The stocks usually trades at low p/e . So don't  get into value trap by p/e only  for Bharati shipyards its 5.

Defense sector spending and oil prices recovery , growing imports and more power plants could be good for shipping industry . Bharati undertakes shipbuilding orders for the dry bulk segment and defence sector On the valuations front, analysts value Bharati's stake in Great Offshore at Rs 118 per share based on its 2010-11 estimated EPS of Rs 68.5 and PE multiple of seven times. At Rs 223, the stock is trading at a reasonable PE multiple of 3.4 times its estimated 2010-11 EPS of about Rs 66.


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