Traders accumulating shares of Bihar Tubes

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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Author: Austin Comments: 0 comments Date: 8 May 2008
Categories: Street Buzz Tags: , , , ,
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