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Friday, June 28, 2013

Updates on Glodyne Tech Ltd
According to my close sources in Glodyne Tech Ltd:
(i) The company has started to pay off the Loan installments in time and clear off the debts as soon as possible. It is also looking for a Corporate Debt Restructuring Scheme or coming up with some sort of agreement with the banks---the efforts are on, to clean the debts on the books, as soon as possible.
(ii) The company at present is working on 2-3 NEW projects, which have started to gather steam. It is also looking for further consolidating its order book position by the end of CY13.
(iii) The US subsidiary, has started to deliver, but this is expected to pick up the real steam by the end of CY13. The process is going on very fast.
(iv) The company is looking to boost the fundamentals in the coming months and the market hopes that from Q2FY14, the results would start to pick up on the positive side.
(v) The company's overseas assets have increased in value in rupee terms. as the INR has depreciated against the USD. Hence, this is expected to give a kick to the book value of the shares of the company. The company is working on to increase the cash flow from the overseas ventures, and soon we might see the results.
(vi) The overall business environment and also the business of the company is improving in this fiscal as compared to previous fiscal. This momentum is expected to continue.
Conclusion: From my conversation with the sources it is now amply clear the company, is slowly coming out of the blues and is expected to deliver in the coming days. CLICK HERE. The investors are suggested to buy the scrip at Rs.9.35-9.45, for a target of Rs.17--20, in the coming days.