|Allied Digital India Office Directory|
In October, Sandvik announced a plan to set up its sixth manufacturing base in India at $ 45 million (approximately 280 crore at current exchange). But that may not be the end of the investment proposals to the country. According to Kobus Malan, President emerging markets, Sandvik Mining, the company is also relocating number of its global mining equipment facilities from USA and Europe to India and China as part of a two year business reorganisation plan that will be completed in the next fiscal.
Western India Shipyard Ltd moved up by 3.28% and closed at Rs.1.89, in the BSE. Inspite of the company constantly improving its performance during the last few months, the share price is not moving up (March quarter, net loss: Rs.12.12 Cr; In June quarter the net loss came down further to Rs.9.27 Cr and in the September quarter, the net loss came down even further to Rs.4.51 Cr. Also, there was a surge in net revenues to Rs.12.60 Cr in the September quarter, as compared to Rs.7.19 Cr in Q1FY15 and 11.18 Cr in Q4FY14). . Really, strange!! I think it would start to show a major up-move, once a TV-analyst gives a Buy Call in front of Camera....Huh!! These days, 24x7 business channels have entered into the psyche of common man (investors/traders) in such a way that, that most consider their words as "Gospels". Or else why should Eicher Motors Ltd (Rs.14607.60; Book Value: Rs.303.07), Ashok Leyland Ltd (Rs.50.55; Book Value: Rs.15.69), etc trade at such a high price? Bring some market-men and ask they them to hammer "BUY, BUY, BUY", hundred times in front of TV-cameras, a scrip will move up---there is no need of any fundamentals.