Buy for April 25th

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Buy Jain Irrigation at 645, 650, 655. Stop loss at Rs. 620.

Target price 720 in next one month.

Jain Irrigation, has multi product industrial profile and manufacturers of Drip and Sprinkler Irrigation Systems and Components; PVC, Polyethylene (HDPE, MDPE) & Polypropylene Piping Systems; Plastic Sheets (PVC & PC sheets); Dehydrated Onions and Vegetables; Processed Fruits; Tissue Culture, Hybrid & Grafted Plants; Greenhouses, Poly and Shade Houses; Bio-fertilizers; Solar Water Heating Systems and Solar Photovoltaic Appliances (Solar lighting systems) and Bio-Energy sources. We render consultancy for complete or partial project planning and implementation e.g. Watershed or Wasteland and / or Crop Selection and Rotation.

Its other major competitors are Advanta India Ltd. and EPC Industrie Ltd.. Jain irrigation is trading at at PE of 32.4 and its forward PE is 29.47 (Based on analyst estimates). This company will see significant growth in near future as commodity prices are increasing and farmers would like to increase production. This will increase the demand for irrigation equipment and hence push this stock higher.

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