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Gujarat NRE Coke has broken its 52-week high yesterday

Gujarat NRE Coke scrip buzzing: Hype or substance?(Source : CNBC-TV18 22, Moneycontrol.com 21st Feb 2008)
Gujarat NRE Coke has broken its 52-week high yesterday. So, how are the industry fundamentals and trading pattern stacking up for the stock?
Around the same time last year, Gujarat NRE Coke was trading at around the Rs 30 mark. In the latter half of 2007, it crossed the Rs 100 mark. Yesterday, it crossed the Rs 150 mark. The first leg of the run-up from Rs 30 to almost Rs 100 was because of the P/E valuation of its assets. The current run-up from Rs 100-150 is because of P/E valuations of its contract orders. Most orders are taken on spot prices, which are pretty high at around USD 450 per tonne, whereas the contract prices are around the range USD 200-250. So, investors are expecting that by March, contracts will be made depending on spot prices, which should give a fillip to the company’s bottomline. That is the reason why the stock is making such a run.
The financial performance of this company is actually stupendous if one takes Q3 results YoY revenue growth of about 40% and EBITDA growth of about 300%. Even if one considers other parameters like RoE and RoA, they are very exceptional.
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