Stock Upgraded: Sarin Tech fair value raise to 1.24 by DBS Equity Research!

DBS Equity Research said it has raised its fair value for process equipment supplier Sarin Technologies to 1.24 sgd per share from 1.06 previously, as it expects sales growth for the diamond industry to accelerate further. In the first quarter to March, Sarin's net profit grew 64 pct year-on-year to 2.48 mln usd as sales rose 50 pct to 8.55 mln usd. "We expect top-line growth to accelerate through the second and third quarters, as we expect the Quazer product to contribute more significantly to revenues," DBS said. Sarin was untraded. It last traded on Thursday, finishing up 0.01 sgd at 1.08.