1. Promoters hold 65.26 percent stake in varun industries is a good sign for corporate governance.
2. Varun industries hold 1606.83 million reserves are also very very good sign for fundamental view.
3. Varun industries give 10 percent dividend last year.
4. EPS of varun industries is 5.80 in last year and this year 2009-10 we estimate near about 11 if every thing is go fair.
5. So varun industries price of 95 discounts it at P/E of near about 9 that is expensive P/E for steel sector so we think that price of 66 and below 66 is fair for entering in varun industries.
6. 18 august 2009 is ex dividend date for varun industries so I think you purchase it after 18 august and near about 15 September may be(not sure) you find a low price.
7. Remember varun industries 52 week low are 19.70 and only one month ago varun industries traded on 38.95 only.
8. So wait for a price low than 66 other wise you may trap on higher price.
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