Visaka is a good buy at Rs 270

12,500 tonnes of yarn per annum. The company has also forayed into fibrecement boards and panels. This was established in 2009 to cater to the needs of modern construction designs. The first factory was established in Telangana and the second in Maharashtra in 2013. This division has a capacity of 130,000MT of fibre cement boards per year. This division also produces panels to assembled partition walls. Cement asbestos products continue to be in demand particularly in the rural market. The product is superior due to its affordability and qualities such as corrosion resistance, weather and fire proof nature. At present, there are about 20 entities in the cement asbestos industry, with around 72 manufacturing plants with an annual capacity of 57 lakh MT throughout the country. The government’s prime emphasis on housing for all in the next five years augurs well for the industry. Favourable industry developments, well diversified portfolio and rich expertise in tapping the potential opportunities will propel the company in good stead in the coming years. The company is continuously striving to enhance the product’s distribution reach and market presence by strengthening its network of stockists, resorting to aggressive advertising and introduction of new colour coated sheets. Coupled with inherent advantages associated with the product such as cost affordability, will result in a growth rate of 10% in the current fiscal. It is expected that asbestos cement sheets profitability will remain strong on the back of increased demand in the monsoons and subdued fibre cost, while cement boards and panels profits are also expected to have steady domestic sales. The company has reduced its debt burden from Rs 299.46 crore to Rs 194.90 crore. On a paid-up capital of Rs 15.29 crore, the company has reserves of Rs 372.47 crore, while the book value works out to Rs 238 per share. The promoters hold 37.6% equity capital of the company, while the institutions hold 4.1% and the balance 58.3% shares are widely held among the Indian public. The stock currently quoting at Rs 270 is a good buy with a fundamental target price of Rs 400 in 12 months. Rajiv Kapoor is a share broker, certified mutual fund expert and MDRT insurance agent. The government’s decision to significantly enhance its health spending two- anda-half times is very likely to achieve health for all (universal health coverage) by as early as 2025. This would be a remarkable feat as only about a fifth (18%) of India’s population is currently covered either by the government or private health insurance schemes. Espousing Prime Minister Narendra Modi’s mission to provide health for all Indians, the government has decided to increase its spending on healthcare to 2.5% of the GDP up from 1% currently. “The move would scale-up the size of India’s The Supreme Court’s ban on sale and registration of Bharat Stage III ( BS-3) compliant vehicles beyond 1 April 2017 has caught auto manufacturers unaware, but judicial intervention in matters concerning environment protection clearly suggests that India’s emission regulations have been ill-planned and severely delayed. Though the government had issued the notification way back in August 2015 clearly stating that only BS-IV compliant vehicles “will be allowed to be registered and move on roads from April 2017”, automakers, however, were a bit confused on the applicability of such a mandate, “with many