Scripscan:Abhishek Industries Ltd
cmp:14
Code:521064
Story:Abhishek Industries Ltd, a part of the Trident Group, has said its is investing Rs 825 crore on an integrated pulp and paper project. The company, which launched two branded copier paper products - Spectra and My Choice, said it is targeting an incremental turnover of Rs 400 crore from the expanded branded copier paper portfolio. The company said its facility has a capacity to manufacture 1.75 lakh tonnes a year of both printing and writing papers using wheat straw as the main raw material.The company is also a major manufacturer of ECF bleached pulp based paper in northern India. With the strengthening of its product portfolio, the Trident Group plans to target a 10-12 per cent market share with a sharp focus on customers in Delhi, Mumbai and Ahmedabad. It also plans to increase export markets in West Asia, African and European markets.Now, Lets understand one thing that this is a company in textile which has now diversified into paper, it’s a trigger but there is a trigger, which possibly could unfold over the next one and half to two-three years. And paper is not something, which specifically many people in the market fancy.As a textile stock a price of Rs 10-11 itself was not a price at which I would have been attracted and now the sharp run-up because of the news announcement is also not something, which I am going to recommend this stock. So all those people who are feeling trapped in the stock like Abhishek Industries could use higher level of exit from the stock. A sharp 25-30% run-up in the stock price from from present levels could be possibly use as an opportunity to exit.
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Saturday, October 31, 2009
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