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Monday, December 21, 2009

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

Scripscan:IAG Company Ltd
BSE code:502241

Story:IAG Co Ltd is the culmination of over four decades’ process of evolution and growth that began in 1956 under the name of Indo Asahi Glass Co. Ltd. It was the first joint venture of Asahi Glass Co Ltd, of Japan, outside their country. From that time the company was showered with uninterrupted patronage and directions from them till the year 1998.The first three decades of the company’s existence were primarily devoted to the growth and consolidation of the sheet glass business in clear and colour. In the year 1988, the company launched a line of high quality figured glass. In the year 1999, the Japanese conglomerate debonded their relationship with the Indo Asahi Glass Co. Ltd. Thereafter the ownership was fully indianised and it came under the aegis of an Indian glass manufacturer transforming the name to IAG Company Ltd.After completion of fifty years of existence, the full management and operational control of the company has been taken over by an upcoming entrepreneur group who are in the construction materials manufacturing for few years. With the advent of globalization of the Indian economy, IAG has transformed it’s work culture tuning with the new era. But still the reputation that IAG has built over the years for high ethical standards is one of company’s greatest business assets.The Commercial Production of the Company started in the month of December, 2008.The Company has also undertaken projects for modernization and expansion as well as for modification and development.It has revamped the production capacity of Furnace-1 to 90 TPD by modification of the furnace and its allied areas.In order to leverage optimum capacity of the Furnace-2, the existing 6-ft line has been converted to 7 ft, a 15% increase in production and also setting up of an additional 4-ft line in the same furnace is nearing completion. This will enhance the production capacity to 290 TPD.In order to mitigate costs of Furnace Oil the company has switched over to coal gas by installing 3 nos gassifiers imported from China.IAG has also signed a Memorandum of Understanding with Tripti Vinimay Private Ltd. for the development-cum-modification of the Company's land at Sodepore.This project is expected to be completed in next five years.All this developments should result into decent numbers for the company in the coming years.I rate a hold on this scrip at present levels.

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