Cotton production may jump 5% next year [Buy SEL Manufacturing Company Ltd at the CMP of Rs.74.55, for a target of over Rs.300 in the next 12---18 months time frame. The book value of the shares of the company is a whooping Rs.159.63. The EPS of the shares of SEL Manufacturing Ltd is Rs.31.39; P/E of only 2.37, and Price to book is absurd at 0.47. There cannot be a better company to invest in the textile sector, after the government's recent announcement of FTP. The government has decided to continue with the DEPB Scheme upto December, 2010, which augurs well for the company. Moreover, income tax benefits under Section 10 (B) for 100% export oriented units for one additional year, till 31st March, 2011, enhanced insurance coverage and exposure for exports through ECGC Schemes till 31st March, 2010, allowing EOUs to sell their products manufactured by them in DTA, upto a limit of 90% instead of 75%, without changing the criterion of 'similar goods', within the overall entit...
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Normal Rain in 12 of 36 'monsoon divisions'. Over 500 mm rainfall this season. [Refex Refrigerants Ltd is venturing/foraying into Renewable Energy (Non-conventional) Sector. The company has already expanded its capacity to 4800 MT per a nnam which will be further expanded to 7800 MT per a nnam by the end of FY10. The company's solar power project is expected to be operational within the next 3 to 4 months time frame. The initial capa city is projected to be around 2-3 Mega Watt. It is also planning to go for wind power projects, which once set up have virtually very less maintenance cost, but produces steady power for a long stretch of time. The company is a huge having a number of overseas and domestic subsidiaries. The company has following Overseas Subsidiary Companies: (i) Kaltech Refrigeration & Engineering Pte Ltd , Singapore (ii)Global Refrigerants (s) Pte Ltd, Singapore (iii) Sherisha Technologies(s) Pte Ltd, Singapore Though the company is going in fo...
Industrial output exceeds expectations, up 7% in July Sicagen India Ltd, XL Telecom and Engineering Ltd, Pyramid Saimira Theatres Ltd (PSTL), etc. hit the Buyer Freezes. Refex Refrigerants Ltd also hit the Buyer Freeze. The company is into manufacturing and marketing of Refrigerant Gases. It is a huge company having a number of Indian/domestic and overseas subsidiaries. The company has following Overseas Subsidiary Companies (i) Kaltech Refrigeration & Engineering PteLtd, Singapore (ii)Global Refrigerants (s) Pte Ltd., Singapore (iii)Sherisha Technologies(s) Pte Ltd, Singapore The government today announced that industry output, as measured by the index of industrial production (IIP), grew 7 per cent in July, the same as the corresponding period in 2008, taking analysts by surprise as much for the magnitude of the growth as the early data release. The announcement was made by Commerce and Industry Minister Anand Sharma while announcing the new foreign trade policy and was unexpecte...
5 power projects may get K-G gas this week M y recommended Glory Polyfilms Ltd, Sicagen India Ltd, VLS Finance Ltd, XL Telecom and Energy Ltd, Pyramid Saimira Theatres Ltd, U B Engineering Ltd, Ansal Housing Ltd, etc. did well yesterday in the bourses... I have recommended a Stock to the Paid Groups today, which is at Rs.74, but Q1FY10, EPS is Rs.11.92. The name of the scrip is SEL Manufacturing Company Ltd (BSE Code: 532886). The company is into TEXTILES ...... It will take sometime for the normal operations to start in the Paid/Free Groups, as passing away (death) of my mom (mother) has shaken me a lot....... The government is likely to allocate 4.73 million standard cubic metres a day (mmscmd) of gas from the K-G Basin of Reliance Industries Ltd (RIL) to five power plants by the end of this week.The additional allocation will be made even as the Anil Ambani-owned Reliance Natural Resources Ltd’s plea for quashing earlier gas sale purchase contracts is coming for hearing in the Sup...
Vision Corporation Ltd --Update: Vision Corporation Ltd has informed BSE that the Company has produced a remix album 'Survi as Sharabi' which will be launched with a grand celebration in the presence of media and celebrities from film industries and politics tentatively on August 22, 2009. This album contains 8 old films songs which is remixed by famous DJ Sej Wood and the video of 2 song are shot in Hollywood at various locations by eminent video director Rahul Sood. The publicity and promotion of this album will be carried out by the prominent PR O's.Further the Company is into various businesses of producing & releasing movies so far have more than 200 movies owned by the Company, producing serials, producing music albums audio and video both, Tie ups with various channels for telecasting the movies, IPTV Rights, Internet rights and hold various other rights of movies. The Company has also signed the agreements with the various digital content service providers like ...
Energy stocks rises after crude oil futures surged to a two-month high Buy Asian Oilfields Ltd (Rs.59), Expo Gas Containers Ltd and Essar Oil Ltd (Rs.132) and Vision Corporation Ltd. My recommended Prajay Engineers Syndicate Ltd, Ennore Coke Ltd, Helios and Matheson, Entegra Ltd, Kohinoor Broadcasting Corporation Ltd, Four Soft Ltd, etc. hits the buyer freeze. U B Engineering Ltd also hit the buyer freeze in the opening trade. SINGAPORE – Asian stock markets were mixed Thursday as energy stocks rose after crude oil futures surged to a two-month high and China's stocks rebounded, while Taiwan's shares fell on concerns about a likely cabinet reshuffle. Japan's Nikkei 225 was up 1.1%, Australia's S&P/ASX 200 was down 0.1% , South Korea's Kospi Composite had gained 0.8% while New Zealand's NZX-50 was 0.8% lower. DJIA futures were 15 points higher in screen trade. On Wednesday the Dow Jones Industrial Average ended up 0.7% at 9279.16, its second-straight finish ...
HURRAH!!!!!!!!!!!!!!!!!!!!!!!: Global Recovery Hopes Gain Momentum as Japan Exits Recession.. TOKYO/NEW DELHI: Spurring further hopes of an easing in global economic situation, the world 's second largest economy Japan has exited the recession with GDP growth of 0.9 per cent in the second quarter. After four straight quarters of contraction, Japan climbed out of the recession to join Germany and France that have already put the worst of the recession behind them. According to the Japanese Cabinet Office, the country's GDP expanded 0.9 per cent for the three months ended June, while the economy had contracted 3.1 per cent in the first quarter. Meanwhile, on an annual basis, Japanese economy witnessed a second-quarter growth of 3.7 per cent. Reflecting the improving economic situation worldwide, European economic majors -- Germany and France -- pulled themselves out of the downward spiral last week, with both economies growing 0.3 per cent in the second quarter, after being mir...
WINNING STROKES: THINK DIFFERENT: [Updated] The morning call on U B Engineering Ltd, given yesterday, first to the Paid Groups and then to the Free Groups (Those who are there on my Yahoo Messenger list), hit the buyer freeze in the late trade with good volume. This happened when the Sensex tanked by more than 600 points.The company is becoming debt free in this quarter and it came out with outstanding results in Q1FY10. The company would benefit immensely from the fall in the price of metals. It is from the high pedigree, Vijay Mallya Pack (U B Group). The stock should be crossing Rs.100 within the next few weeks. Premier Explosives Ltd came out of the circuits after profit booking was advised for the Paid Groups. The company though is doing well, but is unable to clear the zone of Rs.42-Rs.45, since a long time--hence the sell call given. Yesterday's initial price movement was more or less due to operator based activities. There is no stopping of Sicagen India Ltd as the stoc...
Steel companies outperform Sensex in last seven months NEW DELHI: The revival of the steel sector in India is now visible on Dalal Street too. Steel companies outperformed the Sensex during the calendar year 2009 as year-to-date returns given by listed steel companies were as high as 75% against sensex appreciation of merely 51%. As many as 26 companies appreciated by more than 50% from the beginning of the year, whereas market cap of 12 others doubled during the same period, an analysis has revealed. Companies such as JSW Steel, Steel Authority of India (SAIL) and Tata Steel are in the bracket of offering 100% returns to investors. SAIL, the largest steel producing company in the country, posted a good show during July’09 by producing 1.08 mn tonnes of saleable steel, a growth of 14% over the corresponding period last year. The company’s sales also registered a record growth of 25% during the month. “In spite of downturn continuing in the global steel markets, the overall demand for...
China stops expansion projects in steel industry for three years China's fiscal revenues are growing rapidly due to the strong economic rebound, underpinning the government's efforts to further boost growth with a proactive fiscal policy. China's imports of iron ore and crude oil reached record highs in July on the back of strong do mestic demand, even as overall trade showed a steeper decline compared to the same period last year. China's Ministry of Industry and Information Technology (MIIT) Thursday announced a three-year moratorium on approvals of new expansion-related proposals in the iron and steel industry, as the government pledges to eliminate outdated capacity. MIIT Minister Li Yizhong said overcapacity in the steel industry was "the most evident" of all the industrial sectors, with this year's estimated total output capacity at 660 million tons, compared with estimated demand at 470 million tons. He called for steel mills to stop expansions for...
China to increase investment in railway construction China plans to invest at least 700 billion yuan ($102.49 billion) per year in railway construction over the next three years, said Wang Zhiguo, vice minister of railways. "In the first seven months of this year, China invested 247.49 billion yuan in railway construction, up 136 percent year on year," said Wang, adding that the planned railway investment for 2009 is 600 billion yuan. He said by the end of next year, about 20,000 km of new railways will be approved for construction, which will need an investment of at least two trillion yuan. By the end of this year, China will have a total of 86,000 km rail lines, second only to America, according to Wang.
India May Trigger $39 Billion of Share Sales With Ownership Cap Rajhkumar K Shaaw and Veronica Navarro Espinosa Aug. 14, 2009 -- India may trigger as much as 1.9 trillion rupees ($39 billion) in stock sales, equivalent to five years of equity offerings, with a proposal to limit stakes of controlling shareholders. Prime Minister Manmohan Singh ’s government is considering a plan that would require at least 25 percent of a company’s stock to be traded. The rule would prompt equity sales in 560 of Mumbai’s 3,335 most-active stocks, such as NMDC Ltd. and Steel Authority of India Ltd. , according to data compiled by Bloomberg. The changes may encourage foreign investment by bringing Indian regulations in line with the U.S., U.K. and Hong Kong, said Anshul Krishan , the Mumbai-based head of Goldman Sachs Group Inc. ’s India financing group. The sales, equal to about 4 percent of India’s $1 trillion stock market, probably won’t affect prices if they’re staggered over time, said Purav Jhaveri...
WINNING STROKES: THINK DIFFERENT: My today's morning call Vision Corporation Ltd to the Paid Groups hit the buyer freeze with huge volumes. The company came out with superb set of numbers for the Q1FY10. Sicagen India Ltd hit another buyer freeze with huge number of pending orders. It is primarily into Auto and Construction sectors (There are some fresh inputs on the company at http://www.sumaspeaksplus.blogspot.com/ ). Also, there is a very good news from the US auto sector--Ford Motor confirmed, it is increasing its production of several models as inventories slide amid the popularity of the “Cash for Clunkers” program. Ford Sale s Analyst George Pippas in a conferenc e call with journalists confirmed that Ford is increasing production of its Focus, Edge, Ranger and Escape models. Moreover, Government programs to support the auto industry helped Germany and France return to economic growth in the second quarter, rebounds that stoked hopes the recession in the wider 16-country ...
Fed says economy leveling out; rates stay at lows WASHINGTON – The Federal Reserve delivered a vote of confidence in the economy Wednesday, saying it would slow the pace of an emergency rescue program and indicating the recession appears to be ending. The central bank also held interest rates steady at record lows, with a closely watched bank lending rate near zero, and again pledged to keep them there for "an extended period" to nurture an anticipated recovery. Fed Chairman Ben Bernanke and his colleagues said the economy appeared to be "leveling out" — a considerable upgrade from their last meeting in June, when the Fed observed only that the economy's contraction was slowing. "We're no longer at DEFCON 1," said Richard Yamarone, economist at Argus Research, referring to the defense term used to indicate being under siege. "The Fed is pulling in some of its life preservers now that the economy is no longer sinking." The more optimisti...
Muslim teen Christian convert says family threatened to kill her..!! Orlando (Florida, US): An Ohio Muslim teenager has said that she ran away from her home to Florida because her family threatened to kill her for converting from Islam to Christianity. Rifqa Bary, 17, testified earlier this week at a custody heari ng in Orlando that she'd recently changed religions and is worried her relatives will do something drastic, according to WFTV in Orlando and Central Florida News 13. "They have to kill me because I'm a Christian. It's an honor (issue)," the girl told WFTV. Such threats are common, even in the United States, her attorney, Rosa Gonzalez, told News 13. "She says her life is in danger and she could be killed in an honor killing," Gonzalez said after the hearing -- which was held because the teenager's parents are trying to regain custody of her. Rifqa has been staying with an Orlando couple who are pastors of a new Christian church there. She m...