*Arvind gets going* Last year, on 14th Dec, exactly a year ago, Arvind had hit a new 52-week low at Rs.46.05 and today, the stock is up almost 2.5% at Rs.81.75. Its 52-week high is at Rs.111.15, hit on 1st Nov 2011.
The buzz is on account of the announcement of a JV with German firm, PD Fibre Glass Group, to manufacture glass fabrics for the industries in wind power, shipbuilding and auto sector. The JV company, Arvind PD Glass Composites, has been set up with 51% equity partnership of Arvind and 49% of PD Group. It will be a two phased project, costing Rs.80 crore over the next 5 years to manufacture 30,000 tonnes of glass fabrics. It hopes to generate revenue of Rs.500 crore in the first phase which it hopes to double on the second phase. On Wed, Dec 14, 2011 at 10:56 AM, RAJESH DESAI <[email protected]> wrote: > *Areva T&D at new low* > > Areva T&D hit a new 52-week low today at Rs.140.90 and it currently > remains over 20% down at Rs.157.60 with sellers outnumbering the > buyers. It opened at Rs.186.90, which remains its intra day high. > > The stock is facing relentless selling on demerger on demerging its > distribution (medium voltage) business operations into wholly-owned > subsidiary, Smartgrid Automation. Tomorrow, 15th Dec is the record date > for determining shareholders of the company who would be entitled to > receive on a proportionate basis, for every one fully paid-up equity share > of Rs 2 each held in Areva T&D India, one fully paid-up equity shares of Rs > 2 each of Smartgrid Automation.The stock is likely to be around Rs.145 > levels on ex-basis. > > > > -- > CA. Rajesh Desai > > -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
