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Monday, November 16, 2009

Steel Exchange India Ltd:Future growth prospects and outlook,buy/sell/hold,analysis and recomendation

Scripscan:Steel Exchange India Ltd
cmp:30
Code:590037

Story:Steelexchangeindia.com is an online steel e-commerce portal. The company owns and operates a database that provides information about steel producers, buyers, traders, service agencies such as banks, finance companies, truck transport, and cargo movers. SEIL was established in 1999 and is based in Visakhapatnam, India.On a turnover of nearly 700crs it makes a mere 4.8crs profit.Its reeling under huge debts and this business is tasteless which can only be prefered by some volintarily retired quinquagenarians.There are so many business to look for then why a steel exchange?Anyways lets not disapoint the investors having parked their hard earned money in it.If the company can do a bit of promoting and brand building exercise that may certainly help it to have more busines.The npm is a misery here but by some means if the company can inch it up,the numbers would make much more of a sense.Even a 2% jump here can do the share price wonders.It has already lost around 80% from its 2008 peak and chances of further downside looks limited.I would keep a hold on it and would look for much more promise as far the coming numbers are concerned.

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