Exit tinplate at current levels

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Exit tinplate at current levels.. dowside fall upto Rs 60 can be see in next 1month. Do buy at those levels.Annual performance has been good. However take a look at rise cost of raw material in qtr performance.Long term view it's still a BUY. But let's buy at correct levels that's 55-60.

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Comments

  1. 21 GramsMay 14, 2010 at 12:23 AM

    Hi Prashant,

    Nice to see you getting active again. I am sure your readers must have missed your guidance for past few months. Just wanted to know the possible reasons behind this predicted downfall in tinplate, especially when tinplate has come out with pretty good results recently.
    Thank you.

    ReplyDelete
  2. 21 GramsMay 15, 2010 at 12:12 AM

    Hi Prashant,

    Thanks. I got the answer now why you are predicting a fall. Yesterday these spread sheets were not posted when I asked my querry. Although, like a true soldier, I imdtly sold off entire tinplate holdings from my portfolio. Thanks once again.

    ReplyDelete
  3. 21 GramsMay 19, 2010 at 6:08 AM

    Hi Prashant,

    Today I read this message posted on moneycontrol.com message board of tinplate -

    The Tinplate Company of India (TCIL) is the country�s largest producer of tinplate. Established in 1922, the company pioneered the manufacture of tinplate in India; today it accounts for over a third of the market. The company`s products are used for canning and packaging of goods in the processed foods, paints, beverages, dairy products and other industries.TCIL is in the business of providing metal packaging solutions. Its main products are electrolytic tinplates, tin-free steel sheets and cold-rolled products.It manufactures electrolytic tinplates or tin-free steel � from hot-rolled coils supplied by Tata Steel � for can fabrication to pack edible oils, processed foods, dairy products, beverages, pesticides, and paints, and for manufacturing battery components. The company has a technical agreement with Nippon Steel of Japan.Last year the company doubled its tinplate making capacity to 3.80ltpa from 1.6ltpa.Tinplate`s incoil form also is expected to get good acceptance in its exports,which is set to go up to around 35% of its enhanced capacity in coming years.Recently the company came out with stunning set of numbers. Net profit of Tinplate Company of India rose 592.41% to Rs 21.88 crore in the quarter ended March 2009 as against Rs 3.16 crore during the previous quarter ended March 2008. Sales rose 94.58% to Rs 209.85 crore in the quarter ended March 2009 as against Rs 107.85 crore during the previous quarter ended March 2008.For the full year, net profit rose 783.25% to Rs 34.80 crore in the year ended March 2009 as against Rs 3.94 crore during the previous year ended March 2008. Sales rose 65.55% to Rs 660.29 crore in the year ended March 2009 as against Rs 398.84 crore during the previous year ended March 2008.Further by around october-november of the present fiscal things would be much better for the company as the downstream unit of its cold roll complex will start operating.Being from the TATA stable the company never actually performed over the last 5 years.With numbers expected to be robust in the coming quarters tinplate should outperform the markets bigtime.Tinplate Company of India Ltd is all set to become a scrip which should write a new scripture in the days and months to come.A great buy at dips. ...

    This is what was written by someone called arunthestockguru.com. Though everything written by him is true and sounds convincing, how come the dangers you have mentioned were not noticed or even analysed by this gentleman? are we missing something?

    ReplyDelete

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