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Friday, July 31, 2009

Hinduja Foundries Ltd:-Is it a buy/hold or sell?

Scripscan:Hinduja Foundries Ltd

Story:Investors, who can pick the right stocks at the beginning of the year, stand to make good gains in the months ahead. But it is not just the right stocks that matter; they have to be picked at the right time. After all, Warren Buffett dropped a billion dollars in 2005 because his bet about the falling US dollar was wrongly timed. A combination of domestic growth and cheap financing has turbo-charged growth of the auto sector in the last three years. As a direct consequence, companies that are suppliers to the auto sector are doing well too. One interesting case is that of Hinduja Foundries, an associate of Ashok Leyland. HFL is the largest automotive jobbing foundry which makes grey iron castings and aluminium gravity die castings for automobiles, industrial engines, power generators, tractors and defence applications. HFL has an impressive list of customers including Ashok Leyland, Hindustan Motors, Hyundai, Maruti, Swaraj Mazda, Simpson & Co., Caterpillar and Mahindra.The company operates at an average margin of 9%. This stock has been languishing for the last one year but recently lot of interest has been observed in it. The market may have just started taking cues from its plans to expand and its great future prospects.Looks like a decent buy at sub 80 levels.

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