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Today's Call:
The markets are on a "Great Momentum Horse" and its seems it will continue as long as FIIs, Mutual Funds and Retail investors pump money into the bourses.
The investors can think of entering Indo Rama Synthetics India Ltd at the Current price of Rs.53.5( BSEL Code--->500207). The company is into the making of Synthetic Yarn, whose raw material is a petrochemical. Since the crude prices are coming down and is expected to come down futher, it might trigger a crash in Petrochemical Prices in the near future. In this backdrop I would expect Indo Rama to garner good profit from the existing capacities and also due to capaicity addition which is due to take place from the next month. It is to be noted that the Company is in the process of doubling its Polyester capacity by putting up additional capacity of 3,00,000 tonnes per annum at its plant at Butibori. The company has incurred an amount of Rs 7850 million on this project till September 30, 2006. Trial production has commenced on September 10, 2006 in POY unit. Commercial production will be commencing shortly. The Board of Directors of Indo Rama Synthetics India Ltd is meeting on November 30, 2006 to consider, on principle, the merger of Indo Rama Petrochemicals Ltd (IRPL) with the Company.IRPL, a non-listed closely held Company is in the advanced stage of commissioning of a coal fired captive Power Plant at Butibori, Nagpur. Also the company is expected to take off in a large way in the days to come. The profits in the September quarter got hit due to the huge rise in raw material costs( due to rise in crude prices). But now since everything is getting streamlined, I expect the company to generate huge revenues in the days to come. It is now turning out to be a huge player in the polyester Yarn Segment and CMP cannot be price of such a wonderful scrip. Also remain Invested in Conart Engineers Ltd and also Roto Pumps Ltd. PBA Infrastructure Ltd[Recommended on Last Wednesday] and Hazoor Media hit the buyer freeze today. I have trimmed down my holding in Hazoor now to only 30%. I have sold another 10% today. More in the following postings...... Best wishes, Suman Mukherjee India. www.eindiabrokers.com

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