The stock was down 5% today and closed at Rs. 496 in BSE. As the stock had a dream run from Rs. 403 on July 2nd to Rs. 572 on 24th July 2007 ( 42%), no good result can stop a steep correction.

It is so coming down heavily and has almost lost 15% of that gain.

Now coming to the results Sales stand at Rs. 248 crores against Rs. 121 crores last Q1. Other income is huge at rs. 24 crores.

Profits stand at rs. 33 crores. Negating the other income effect of Rs. 16 crores, net profit stand at rs. 17 crores against last Q1s 12 crores. A rise of Rs. 5 crores.

TTM EPS stands at Rs. 32.

The markets may not look at these numbers favourably, so stock might come down still more.

Wait for the stock to come near Rs. 400 mark to make an entry.