1)Scripscan:Balasore Alloys Ltd
cmp:25
Code:513142
Story:Balasore Alloys Ltd. (Balasore Alloys) is a part of the Ispat Group headed by Mr. Pramod Mittal. The company has business operations in Orissa and manufactures Ferro Chrome and other ferro alloys. The company caters primarily to the stainless steel industry.The company which was referred to BIFR in 2003 got deregistered in 2005 pursuant to the financial and capital restructuring measures undertaken by the company.The company has fully integrated operations - has captive mines, a captive power plant and ferro chrome plant.The company has long term contract with the state government for supply of uninterrupted power alongwith a captive power plant of 21 MW capacity. Exports constitute a major chunk of revenues of the company.The company has 100 Hectares of Chrome Ore mines in Sukinda Valley in the state of Orissa. Sukinda Valley has huge chromite ore deposits. Mining operations have resulted in company's self sufficiency in meeting entire chrome ore requirement to produce Ferro Chrome on sustained basis.In short, there is a great opportunity available to the management since the kind of assets they are sitting on, the potential for profits is Huge.I believe the current stock price discounts the negatives.
2)Scripscan:Automobile Corporation of Goa Ltd
cmp:225
Code:505036
Story:Automobile Corporation of Goa (ACGL) is poised to deliver stupendous growth in the coming years. ACGL is one the largest bus body builder in India. In light of the huge surface transport projects being undertaken across India the company expects huge demand going forward from the Indian domestic market. Given the fragmented nature of Bus body building industry and the fact that ACGL is the largest organized player, it is expected to be a major beneficiary of the strong demand growth currently being experienced in the industry.ACGL caters to the most of the bus body requirement of Tata Motors buses for exports. Tata Motors' demand for buses is expected to be more than 20,000-25000 buses per annum. The company has started manufacturing several new models for Tata Motors like Tata Globus, Starbus and Star Skool.Significant increase in the CAPEX cycle in Middle East, emergence of African markets coupled with demand for CKD kits will ensure robust demand for the division.The Company is working closely with Hispano to use Hispano's technology to build buses for the Indian markets which will help ACGL to upgrade its technology and help it build larger / higher end buses.Conisering all the points acgl has got a great future ahead.Its quoting at low single digit mulitple based on 1 year forward earnings.A good bet to opt for.
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Saturday, September 12, 2009
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