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Subhash Projects & Marketing Ltd (SPML) closed at Rs 143 on the BSE, a gain of five per cent over the previous day's close. In the last one week, the counter surged 15.75 per cent. This was on the back of expectation by select investors that the company is likely to gain from the execution of mandates bagged by it.

However, analysts who refer to SPML's 70 per cent increase in revenues for the last quarter of 2005-06, partly remain conservative in their estimate for its earnings before interest, taxes, depreciation and amortisation for fiscal 2007.

The counter is currently trading at about 10x 2007 estimated EPS of Rs 12.2 and 7x 2008 EPS of Rs 18 on a standalone basis. Trading in the stock is currently marked by low volumes. On Wednesday, only a little over 8,000 shares were traded.

Nilanjan Dey

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