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Thursday, March 1, 2012

Schrader Duncan Ltd:Buy/sell/growth prospects and recommendation,news and results,target and analysis,view and outlook,multibagger

Scripscan:Schrader Duncan Ltd

Story:Schrader Duncan Limited manufactures and sells automotive and pneumatic products in India. Its automotive products include various valves, including car and light truck valves, tubeless single bend swival valves, extension stem assemblies for swivel valves, tractor valves, truck and bus valves, passenger car valves, scooter valves, rubber base convertible valves, convertible screw-on tube type valves, shock strut valves, high-pressure inflating connections, tubeless non-swivel valves, motor cycle valves, and light truck valves; and valve accessories comprising bridge washers, semi flexible extensions, valve cores, hex nuts, and rim nuts. Further, the company engages in processing of rubber compounds. It offers its products to tyre and original equipment manufacturers.The company has been making losses but there's a buzz in the market that its parent may buy out the company from the Indian promoters.Schrader Bridgeport International Inc, USA, which is the majority partner in the JV -- Schrader Duncan -- is in talks with J P Goenka to buy his 24 per cent stake in the company.Schrader Bridgeport International Inc, which is a part of global engineering and manufacturing group Tomkins PLC, UK, has a 51 per cent stake in Schrader Duncan.In order to increase its footprint in India, Tomkins PLC, the parent company, is likely to merge Schrader Bridgeport International's Indian business with another subsidiary, Gates India, which is an industrial hose manufacturer.Gates India has big manufacturing facility at Lalru, near Chandigarh, which is spread over an area of 35 acres. Gates India is a wholly-owned subsidiary of Gates Corporation, USA, which is a wholly-owned subsidiary of Tomkins PLC.Schrader Duncan has its pneumatic division in Mhape, Navi Mumbai, and an automotive division in Ranjangaon. The company has attractive real estate assets spanning more than 4.5 acres in Mulund, Mumbai.If the deal goes through expect the stock price of schrader to move into a different orbit.At 36crs marketcap considering the land and its assets its definitely grossly undervalued and would fetch a better value if the deal materializes.

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