Scripscan:Ushdev International Ltd
Code:511736
Cmp:304
Story:Ushdev International Limited engages in the power generation and trade of steel.The company trades in various steel products, including raw materials, such as metallurgical coal/coke and sponge iron; flat products, which include hot rolled coils and pickeled coils, cold rolled sheets, galvanized products, annealed products, pickeled products, and color coated sheets and corrugated sheets; and long products comprising angles, beams, and channels in flat products of steel. It also generates wind power though negligible compared to its turnover.At present price of 300 odd its commanding a marketcap of over 800crs and quotes at a trailing PE of around 40 times.Thats ridiculous valuation for a trading company that too under the present uncertain environment.Ushdev already has been a 11 bagger from its 52 week lows.Steel companies hardly gets fancied by top investors this days.I would definetly suggest an exit from the counter to be switched on to something like a jai balaji industry which looks much safer and promising at this juncture.
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