A Delhi based investment broker is very optimistic about Munjal Showa. The company has reported a net profit of Rs. 29.85 crore on a turnover of Rs. 742.30 crore for the first half of the current fiscal against a net profit of Rs. 13.16 crore on a turnover of Rs. 590.97 crore for the corresponding period last year. For the entire 2010-11 the company had posted a net profit of Rs. 34.01 crore on a turnover of Rs. 1268.17 crore. Free reserves of Rs. 214 crore plus against the equity capital of Rs. 8 crore make it a bonus candidate also. The scrip is worth considering at every decline for medium to long-term rewards, suggest the investment broker.
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