Quantitative Analysis

Rajesh Exports Ltd has announced the following results for the quarter & year ended March 31, 2011: The Unaudited results for the Quarter ended March 31, 2011 The Company has posted a net profit of Rs 506.95 million for the quarter ended March 31, 2011 as compared to Rs 985.57 million for the quarter ended March 31, 2010. Total Income has increased from Rs 63017.83 million for the quarter ended March 31, 2010 to Rs 63649.26 million for the quarter ended March 31, 2011. The Audited results for the Year ended March 31, 2011 The Company has posted a net profit of Rs2479.58 million for the year ended March 31, 2011 as compared to Rs 1934.11 million for the year ended March 31,2010. Total Income has increased from Rs 185294.48 million for the year ended March 31, 2010 to Rs 208643.81 million for the year ended March 31, 2011. Leading gold jewellery- maker and exporter -- Rajesh Exports-- has earmarked its ambitious plan of retail expansion across India. The company has set aside Rs 6,500 crore to set up a 550-store network pan-India over the next three years.

On technical perspective, after taking significant correction from the highs of Rs 140, scrip has shown crucial resistance below Rs 80 level and we might see some buying opportunities in the near term. Nevertheless its technical indicators i.e. RSI and MACD also revealed some technical pull back in near term.

Shree Renuka Sugars is looking to commence its 1 million metric tonne (mmt) plant at Gujrat in middle of this year, company officials quoted. With the commencement of this plant, the company's total capacity will increase to 9,000 tonne a day. The plant will supply sugar to sugar- deficit countries around India and meet local demand during years of shortage.  Shree Renuka Sugars has reported results for the second quarter March 31, 2011. The company's net profit for the second quarter has decline by 85.09% at Rs 29.20 crore as compared to Rs 195.90 crore for the quarter ended March 31, 2010. Its total income has decreased by 22.91% at Rs1234.70 crore for the quarter under review from Rs 1601.70 crore in the corresponding previous quarter. On consolidated basis, the group's net profit after minority interest for second quarter has plummeted 73.51% at Rs 59.40 crore as compared to Rs 224.20 crore for the quarter ended March 31, 2010. Total income for the quarter has increased by 6.84% at Rs 1930.50 crore as compared to Rs 1806.90 crore for the corresponding previous quarter. .

On technical viewpoint, stock has shown upward bias after having double bottom formation around Rs 55. In close proximity we believe stock is well poised to move in upward direction. Moreover it's RSI and other technical indicators stands in the positive territory where possibility of turnaround couldn't be rule out. Hence investors are advised to BUY this stock for a price target of Rs 75-80 in near term.

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