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Thursday, July 14, 2011

Ineos ABS (India) Ltd:-Buy/sell/,growth prospects and recommendation,news and results,target price and analysis,views and outlook,multibagger

Scripscan:Ineos ABS (India) Ltd

Story:Ineos ABS (India) Limited engages in the manufacture and sale of acrylonitrile butadiene styrene (ABS) and styrene acrylonytrile (SAN) copolymer products in India and internationally. Its polymer products include Absolac-(ABS), a plastic resin intermediary product used in home appliances, automobiles, consumer durables, and business machine applications; and Absolan-(SAN), a polymerized plastic resin used in lightings, stationeries and novelties, refrigerators, and cosmetic packing applications. The company markets its products through representatives and distributor/dealers. It also involves in trading polycarbonates.The stock has been buzzing oflate after it announced signing a JV with Bayer for a new company, Styrolution, to produce styrene, with an eye on the increasing competition in the Asian and the Middle Eastern Markets.In the joint venture, 50% of the shares will be owned by BASF and 50% by INEOS. BASF will receive cash consideration following completion of the transaction.BASF and INEOS will continue to operate as strictly independent companies until the completion of the deal, which is anticipated in 2011.This news apart, financially the company is on a sound footing.A debt free company, for its first quarter ended 31st March 2011,the company had an EPS of Rs.11.48, giving an annualized EPS of Rs.46 for the full year, discounting the current price by around 14 times.The buying spike in the stock is in anticipation that the company might soon announce delisting plans as the parent company, Ineos ABS Jersey holds 83.33% stake.Valuations are okay but its again more of a play on probable delisting by its parent.Hold on for a higher price in the near future.

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