As mentioned in our recommendation on Sathavahana Ispat about company foraying into Ductile Iron pipes, check below link:
Today the company mgmt officially announced the same. Below is the announcement made by the company mgmt available on the BSE Website.
| Sathavahana Ispat Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 12, 2010 approved for taking up of Integrated project for manufacture of Ductile Iron Pipes (190000 tpa); Sinter plant (298800 tpa), Captive Thermal Plant (15 mw) and Modernization of existing Blast Furnace at an estimated capital outlay of Rs. 350 crores at its Pig Iron making plant 'located at Haresamudram Village, Bommanahal Mandal, Anatapur District, Andhra Pradesh subject to financial tie up and all government and regulatory clearances required, if any. |
Sathavahana Ispat came out with superb results for Q2 FY11, 1337.93 Lakhs as against 406.97 Lakhs in the same period during Last year Q2. 228% increase of Net profit during Q2 FY11 when compared to previous Year Q2.
Avon corporation touched Rs. 10.19 before cooling down to settle at 8.40%, wonderful returns to our clients, 105% returns within 12 days.
Jamna Auto Industries which recommended through SMS, reached Intraday high of Rs. 166, before cooling down and settle down at Rs. 155 with 10% profits for the day.
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