| Topic : Best & Worst Stocks |
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Activity:
Question posted: 09 08 2009 08:30:54 +0000,
1 answers, 304 views, last activity
07 06 2010 20:18:08 +0000
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Monday when the sensex crossed the 16K mark the metal stocks led by Uttam Galva Steels, which hit upperside limit by rising 10 per cent, rallied on the bourses yesterday on a flurry of buying by funds. The BSE Metal index surged by 493.40 points, or 3.95 per cent at 12,889.46 as all the 15 constituents of the segment index ended in the positive zone.
Uttam Galva which is suddenly in news climbed 9.98 per cent to hit its upper limit at Rs 125.05 on BSE after ArcelorMittal said it would become a co-promoter in the firm by acquiring a 35 per cent stake.
And with other comapny stocks like Tata steel, sterlite and Hindustan zinc also performing well, do you think the Metals are back with a bang? And what are your views on Uttam Galva stocks? is it a safe bet or what?
Uttam Galva don't pay dividends. For 112 cr equity reserves are around 550 cr and they have investments to the tune of 1500 cr for the future which probably will get financed through internal accruals and foreign partnerships like Mittal, Mah Gove, Ghana Steel in Ghana. Steel industry as such is only tracking the index for the past year. All steel industries in the sector seems to be on an investment binge here or there some of them which I looked into meaning the future market is going to be OK. So this stock seems to be OK. It has around rs.11 eps which hopefuly will continue to grow considering the deficits in steel for the Economy. Forbes in the last issue reported the steel industry is going to be normal rather than flying.
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No we are not.. not right now. We are still in recovery stage and this time I do not think the same mistake will be repeated. Having tough time is one thing and going back to recession is totally different, we cannot mix them. |