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Monday, December 21, 2009

Gangotri Iron and Steel Company Ltd:Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:Gangotri Iron and Steel Company Ltd
BSE code:530945

Story: The company is part of the Gangotri group that manufactures steel bars under the brand ‘GISCO Thermex TMT Bars’. It has widened it's marketing network and the products are being sold in some locations of Uttar Pradesh,in addition to the various areas of Bihar being served earlier.The product manufactured in the new unit has been well received in the market as far as quality is concerned.The Company is hopeful that the various steps taken by the Government of Bihar for economic and infrastructural development will increase the demand of Company's product and it will not face much problem in marketing it's product in future and particularly when the capacity production is achieved.The company is also developing two projects, one each in Patna and Kolkata. Incidentally, the one at Patna is said to be Bihar’s first ever shopping mall-cum-multiplex project, spread across six lakh square feet.Around four lakh square feet would be leased out for branded showrooms while the remaining would be sold outright. A five star hotel is also said to be a part of the plan. A mail sent to the company remained unanswered till the time of going to the press.MARKETMEN are betting on Gangotri Iron & Steel on account real estate projects.Now,It has moved up over 600% from its lows and I feel at this levels one should exercise bit caution.It should consolidate at present levels and one can make an entry into the counter at dips.

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