Cronimet Alloys India Ltd (previously GMR Ferro Alloys) is a ferro alloys company, engaged in the manufacture of high carbon ferro-chrome for use in the stainless steel industry. It was created by GMR Industries Ltd by spinning off its metallurgical division in April 2006. It has a high carbon ferro-chrome manufacturing facility in Srikakulam district of Andhra Pradesh., and has an installed capacity of producing 25,000 MT ferro chrome in two grades, high silicon and low silicon.
Cronimet Mercon Invest Ltd (a Dubai based MNC) has completed the acquisition of GMR Ferro Alloys and Industries Ltd, part of the GMR Group which is into diversified infrastructure sectors. Post this development, the company has been renamed as Cronimet Alloys India Ltd. Consequent to the acquisition, Cronimet has shifted the headquarters of GMR Ferro Alloys from Hyderabad to Tekkali in Srikakulam district. This is a tightly held company. Cronimet MNC's holding in the company has increased to 70.48%. There is very little free floating stock of this company in the market which is fast drying up. The company posted an EPS of 3.82 in the June quarter, which means that on an annualized basis, the stock is trading at a very cheap PE ratio of just over 5. With the kind of growth the company is poised to make in the next few years, this stock can be a potential GOLDMINE.
Technically, the Cronimet Alloys India Ltd stock is making new highs and as there is hardly any floating stock left in the market, those who enter the stock quickly can possibly make huge gains.
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3 comments:
Sir Ksera sera is trading at 13.10 level. i got it at 11.22. What should i do hold it or sell it. pls recommend. wts ur view on LKP Finance. The finance sector has given a good boom but this counter has not performed yet. i bought at 119 and now it is at 130. What about Facor Alloy. All the Metal sector is in good mood but it is not performing that much good. Can it be aquired at this level. Please give suggetion sir.
Hi Amit, K Sera Sera is now at 14.15. You made good profit from 11.22 level in less than a month. I would have booked part profits at least at this level if I was a short term trader. One can now buy Cronimet Alloys Ltd. for some good gains as it is still to start running.
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Hi Superstar,
I am holding CRONIMET in huge quantities. I will be accumulating more in coming days.
Could you please let me know the holding period and the target for this. This is the first time I have seen you recommend something so strongly(potential GOLDMINE). I have lot of respect for your recommendations.
Regards,
Niranjan
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