IPO Update : Electrosteel Steels Limited

New Baby in the world of Steel

electro I have nothing exciting to write about this new kid on the block. The company is promoted by Electrosteel Castings Limited , which is a leader in Cast Iron pipes and Ductile Iron Spun pipes and I could find this as the only silver lining.

The company is in the process of setting up 2.2 MTPA Steel plant in the state of Jharkhand. It does not have any operating history. It will take a couple of years for the operating performance of the company to unfold and hence I would prefer to avoid the IPO. Only those investor who would like to take a long term view may think of applying at the lower band of the offer price.

Registrar : Karvy Computershare

Issue Closes : 24-Sep-2010

7 comments:

Manish said...

Hi Rajesh,

Is it better to invest in Elctrosteel casting, the promoter company ?

tks,
Manish

Anonymous said...

Hi Rajesh,

Any stock ideas for 1 yr which can yield 20% return

monisha mehta said...

hey , nice blog , like it ,
won't be nice if i u can clickover to my blog page too ,
& post some suggestion

Rajesh Soni said...

Reg. Manish

Not sure, had not reviewed the company in detail.

Rajesh Soni said...

Reg. Anonymous

From One year persepective you can look at few of my old recommendations like Skumars, Gitanjali,South Indian Bank. If you prefer to play with more matured names then I would suggest Crompton, Havells, HDFC, Colgate to name few.

PENNY STOCKS said...

Some of the chinese food stocks look like excellent values at current levels.

PENNY STOCK INVESTMENTS said...

Interesting steel stock.