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Feature plans of the company . Good to know. Source
Alchemistji, if all of the above goes well what could be the fair value of this? Do they have money to go forward?
As man4heart turned to be technical man now you only left for us :-) on fundamental front.
More hanky panky! So maybe Guj NRE Coke is the company to go with.
Certainly. The company has good growth plans and chart also looks good. After Mar-09 lows, it has risen on high volumes and pullbacks have been with lower volumes.
Do not see clear information about current fulfillment of their coal requirements on Company's own homepage. But I read this in one of the Reliance Money coverage (may-09) and this sounded promising.
Quote:
Currently, Gujarat NRE Ltd. is sourcing about 30% of its raw material from its own Australian mines and rest from the spot market. With enhanced production from the Australian mines, the Guj. NRE Ltd. expects to meet its 100% requirement by FY2011.
This will help the Indian operations to be secured on raw material front in scenario of volatile coking coal market though at the annual bench mark contract rates.
Last edited by panks_07 : 2nd September 2009 at 02:28 AM.
- You missed one point, we have divergence in MACD and RSI.
- Check the magic in coming days!
- 65 is a very strong resistance. We saw a rounding top, and as shown its apex is a very big road block.. Enjoy!
It closed at 66.3
I am planning to half my exposure in it.
Time to keep strict stop-loss.
I guess you mean you will keep a trailing stop-loss on half your holding?
Meanwhile, there's this slightly old news which can be viewed negatively:
Quote:
20-07-2009
Gujarat Nre Coke Ltd. has informed the Exchange that the Board of Directors at its meeting held on July 18, 2009, forfeited 4,55,00,000 convertible warrants alongwith its application money amounting Rs. 39 crores held by Promoters/Promoter Group Companies consequent upon expiry of 18 months from the date of issue of these warrants.
Promoters not converting warrants is generally not welcome news.
Yes, thats what i meant.
It crossed 70 today on the bourses, I am not complaining
Entered at around 38, I want to exit it before the impending C wave, can anyone suggest the right strategy/way to close this position.
I'm not technically bright, so I just keep a stop-loss (because I am in a position to do so every day) if I get nervous about a stock. So far, by and large, I'm only booking profits in shares which are "long term" and rebuying the same if they slide.
I don't trust this company at all, I may be wrong, but I always found the management fishy, I am really not comfortable with this company, its always in news during good times, just seems to vanish when things are low, Just my thoughts.
I don't trust this company at all, I may be wrong, but I always found the management fishy, I am really not comfortable with this company, its always in news during good times, just seems to vanish when things are low, Just my thoughts.
Unfortunately, it's in a very good space. Even I wish we could be more confident about this one.
Gujarat NRE Coke's DVR has just 1/100 th voting right and there is no extra dividend.
With almost no voting rights, the DVR gets most of its value from the dividend paid by the company.
That is what makes a DVR unattractive.
Quote:
Apart from differential voting rights (i.e. 100 "B" Equity Shares would carry 1 voting right instead of 1 Equity Share carrying one voting right) all other rights of "B" Equity Shares are similar to the Equity Shares of the Company i.e. they would carry the same dividend rights etc.
But there was some excitement and price-movement recently with Tata Motors DVR.
Tata motors has declared a dividend of Rs. 15, whereas for their DVR shares it is Rs. 15.50. Considering that normal shares are trading at Rs. 750, and DVR shares trading at Rs. 515, it makes it somewhat attractive to buy the DVR shares.
But there is no such incentive for Guj NRE DVR shares.
Tata motors has declared a dividend of Rs. 15, whereas for their DVR shares it is Rs. 15.50. Considering that normal shares are trading at Rs. 750, and DVR shares trading at Rs. 515, it makes it somewhat attractive to buy the DVR shares.
But there is no such incentive for Guj NRE DVR shares.
Yes. This is from the Corporate Announcements dated 02-12-2008:
Quote:
... decided to offer "A" Equity Shares of the Company of Rs.10/- each (i.e. Equity Shares with Differential Voting Rights carrying 100 voting rights per "A' Equity Share but pari passu in all other respect with the existing Equity Shares) on rights basis to the shareholders of the Company in the ratio of 1 (one) "A", Equity Share for every 450 (Four hundred fifty) Equity shares at such price including such premium, as may be decided before the commencement of the rights offer".
When one considers that and the ratio, the whole thing seems to be an exercise in futility.
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. Good to know.
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