India's industrial output growth accelerated to 12.4% on year in July from 4.7% in the same month last year, government data issued Tuesday show.

On-year industrial output growth also quickened from 9.0% in June.
The pace of growth is above analysts' expectations. A poll of eight economists showed that industrial output in July was expected to have grown 11.5% on year.

Manufacturing output, which has an 80% weighting in the industrial output index, rose 13.3% on year in July compared with 6.0% in the same month a year ago

Hi All,

Company is too small to think that big right now. We can buy around these level and see how it pans out. Last quater was good. I think for financials we need to consult Mr. Basant, I dont think I should say anything on financials.

Zero debt company....

Edited by basant - 12/Sep/2006 at 11:36pm

Basant,
could you take a look at this article and give your comments:

    Big boys of Indian mkt shore up holdings

Promoters across Indian companies are shoring up their holdings after the recent  market crash., presumably to take advantage of the low price vis-à-vis May 11 highs. And examples galore.

 

According to news reports, while RCL saw Anil Ambani group buying 1.9 crore shares in it between June 23 and August 2, GE Shipping witnessed Sheths acquiring 8.7 lakh shares during August 10-21. KK Birla family is said to have bought nearly 10 lakh shares of Chambal Fertilisers during July 24-27; and the promoters of Welspun India is said to have bought 16.3 lakh between April 20 and July 31.

 

Then we have Tata Sons, which raised its stake in Tata Chemicals last month. Tatas have also decided to raise their stake in Tata Steel as well.

Although a clear picture regarding promoter's holding of all the company's under BSE 500 will emerge only aftert the second quarter results are out, we can analyse the pattern for the first quarter.

 

In the BSE 500 companies surveyed by Moneycontrol, promoter stake has gone up in as many as 16 companies in the latest quarter, i.e quarter ending either in June or March ( quarter-ends vary from company to company). Here, we are only mentioning companies where promoter's have increased their holding above 10%.

 

Two textile companies - Raymond India and Vertex Spinning--have gone in for big stake hikes. While promoters of Vertex Spinning have increased their stakes by 64% in the quarter ending June 2006, Raymond promoters upped their stakes by 34%  at the end of June 2006 quarter.

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RAYMONDS is no small company, and for their promoters to increase their stake so much means they are confident going forward. And insider buying is always more important to observe than insider selling...

so do you think any of these companies can be a buy right now?