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[dudette]

Networth Stock Broking has recommended an accumulate rating on Ramsarup Industries in its May 9, 2008 research report. "The company has lined up an investment of Rs 1,500 crore over the next two years in order to become one of the top ten wires and wire product manufacturers in the world. Company's Durgapur plant, with a capacity of 55,000 tones, has already started production of low-relaxation, prestressed concrete (LRPC). Over the next two years, the Durgapur plant will have a capacity of 4 lakh tones."

"The company is also expected to add approximately 36,000 tones of stranded LRPC wire every year for the next three years, along with other value-added products such as steel fibre, staple wire, hose wire, among others. The company has two iron ore mines in Orissa, having combined reserves of around 47 million tones. The company is planning to fund investment through internal accruals, debt and private equity. At current market price, stock is trading at 5x of its TTM earnings of Rs 31.2. We recommend “ACCUMULATE” on the stock," says Networth's research report.