Scripscan:Ingersoll-Rand (India) Ltd
cmp:236
Traded on:Nse-bse
Story:Suddenly all Capital Goods manufacturers are seeing fresh order inflow dry-up and existing customers either asking for increase in credit period if not an outright postponement of machine deliveries.The latest corporate to join this parade is the local arm of the US compressor manufacturer Ingersoll Rand. The company produced soft than usual Q3 numbers some days back, and is now ready to effect the closure of its only remaining Air Solutions plant in Ahmedabad.Ingersoll-Rand (India) Ltd has informed BSE that to tide over the reduction in customer orders, the Board of Directors of the Company have at its meeting held on January 29, 2009 decided to curtail the production activity at the Ahmedabad factory and authorised the Managing Director to suitably reduce the number of working days in each month as is commensurate to meet the level of reduced orders.It is apparent Ingersoll Rand like all its capital goods peers has no idea when demand will come-back or even revive.Compressor producers like Atlas Copco and Elgi are going to feel the heat going forth, as from Q4 onwards there would be zero visibility on Revenues and Profits.So folks sell Ingersoll-Rand and move on to the bets which I have suggested in these blog.
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Saturday, February 28, 2009
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