Street Buzz

Traders accumulating shares of Bihar Tubes

May 8th

Posted by Austin in Street Buzz

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A section of traders are busy accumulating shares of a Delhi-based pipe manufacturer Bihar Tubes. The news on the street is that the company is looking at an acquisition and a greenfield expansion in Maharashtra. It had recently aquired Bangalore-based Shri Lakshmi Metal Udhyog, with a capacity of 35,000 mtpa. The capacity will go upto 75,000 mtpa on investment of an additional Rs 20 crore. This will also help in saving transportation cost of about Rs 700 per ton. The buzz is that the acquisition target is a Maharashtra-based company. Analysts expect Bihar Tubes to achieve a net sales of over Rs 600 crore and profit after tax (PAT) of about Rs 36 crore in FY09.

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Smart Investor bets on Rain Commodities

Apr 28th

Posted by Austin in Street Buzz

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Rain Commodities is said to be on the radar of a domestic brokerage firm who seeks to ‘invest smartly’. The firm is said to be aggresively asking investors to buy heavily into the scrip. The firm seems to be creating a buzz that Calcined Petroleum Coke (Rain is the world’s largest producer of CPC) is increasingly becoming a sellers’ market, as no new capacities are coming up. It has recently contracted CPC at over $500 per tonne to aluminium majors in contrast to about $250 last year. As a result, its EBIDTA margins have increased significantly up to $100 per tonne. It has a total capacity of about 2.5 million tonne. Continue reading “Smart Investor bets on Rain Commodities” »

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Steel stocks surge on Chinese speculation

Feb 16th

Posted by Austin in Street Buzz

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Street Buzz: Heard on the street

There is an unusual excitement around scrips of steel companies on the bourses. If sector analysts are to be believed, the Chinese government is going to impose another round of clampdown on steel exports in mid-2008. According to metal analysts, the Chinese government, in all probability, would set a threshold limit on minimum export volume. Continue reading “Steel stocks surge on Chinese speculation” »

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