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Monday, October 24, 2011

Surana Corporation Ltd:-Buy/sell/growth prospects and recommendation,news and results,target price and analysis,view and outlook,multibagger

Scripscan:Surana Corporation Ltd
BSE code:531102

Story:Surana Corporation Limited manufactures, sells, and retails jewelry products in India. The company offers various gold products that include rings, necklaces, bracelets, earrings, pendants, bracelets, bangles, chains, and coins. It also trades in steel products comprising cold twisted deformed bars, mild steel angles, mild steel structurals, mild steel slit coils, and mild steel rounds; involves in bullion trading; and engages in wind power generation. The company exports its products primarily to the United States, Dubai, Hong Kong, Singapore, and Europe.Net profit of Surana Corporation rose 2.76% to Rs 19.33 crore in the quarter ended September 2011 as against Rs 18.81 crore during the previous quarter ended September 2010. Sales rose 93.91% to Rs 2157.36 crore in the quarter ended September 2011 as against Rs 1112.57 crore during the previous quarter ended September 2010.This company inspite being a 5000crs sales company only attracts a 200crs marketcap in the bourses.Reason can be the lack of conviction of the shareholders in the promoters.Any efforts on that front from the management fraternity may help it to settle at a higher rate.A wait and watch policy at this point of time seems most ideal.

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