Friday, January 30, 2015

Rohit Ferro Tech Ltd  was one of the stars of the day, as the scrip closed at Rs.8.45, up 9.74%m after intra-day touching Rs.8.92.The Board of Directors of Rohit Ferro-Tech Ltd at its meeting held on December 29, 2014, has approved the proposal to sell, transfer or otherwise dispose of the Jajpur manufacturing unit of the Company located at Kalinganagar Industrial Complex, P.O.: Duburi - 755 026, Dist,: Jajpur, Orissa as going concern by way of slump sale or otherwise, subject to the such approvals and permission as may be required for such sale. Meanwhile, the Board also approved proposal to offer and allot, subject to the approval of the shareholders, 7,12,05,000 (Seven Crores Twelve Lacs Five Thousand) Convertible Warrants of nominal value of Rs 10/- each at a price of Rs.20 per Warrant (including a premium of Rs.10 per Warrant) in accordance with SEBI (ICDR) Regulations, 2009, to the entities belonging to the promoter group and strategic
investors belonging to non-promoter group on preferential basis. Rohit Ferro-Tech Ltd earlier said that the Pt Bara Prima Mandiri (BPM) having a Coking Coal mine located in Central Kalimantan Province of Indonesia owned by the company through its wholly owned subsidiary SKP Overseas, Singapore has started commercial sales on 19 November 2013 by shipping its first cargo to China. It is currently implementing, Corporate Debt Restructuring (CDR) Process. There are lot of other developments going on in the company. 
Anant Raj Industries Ltd today touched Rs.51.90 in the BSE before closing at Rs.50.05. We have to observe, whether the break-out given yesterday sustains or not. The traders are suggested to book partial profits and wait for the scrip to cross Rs.53, for taking further positions.
Mangalore Refinery and Petrochemicals Ltd (MRPL) today touched Rs.59.35 in the BSE before closing at Rs.58.85. The long term investors can hold the stock for a target of Rs.72. 
Firstsource Solutions Ltd today fell to Rs.28.45 (2.90% down), with Nifty which nosedived by more than 143 points. It is from the reputed CESC Group of Kolkata (Calcutta).  Firstsource Solutions Ltd provides BPM and BPO solutions to enterprise across telecommunications & media, BFSI and healthcare & publishing industries. The firm claims that it currently serves over 100 global clients from multiple delivery centres and in various languages. A multinational company, Firstsource has over 30,000 employees in India, the Philippines, Sri Lanka, the US, Ireland and the UK. The investors are suggested to buy the scrip on all declines, for a medium term target of Rs.52.
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