Uttam Steels Ltd. - Mid cap stock pick

[milind]

I am new to this discussion group and it seems like there is lot of interest here in technical signals. It is good idea to be aware of fundamentals - at least to have confidence in the major trend for a given stock and its sector, and to ensure that valuations haven't grown too much beyond the underlying growth prospects.

Global steel prices are rising, partly due to high demand from China. (http://biz.yahoo.com/ibd/041004/newamer_1.html). Many Steel stocks including Laxmi Mittal's Ispat International (IST on NYSE) have done quite well in recent months.

-- Milind

 

[Traderji]

I am new to this discussion group and it seems like there is lot of interest here in technical signals. It is good idea to be aware of fundamentals - at least to have confidence in the major trend for a given stock and its sector, and to ensure that valuations haven't grown too much beyond the underlying growth prospects.

Global steel prices are rising, partly due to high demand from China. (http://biz.yahoo.com/ibd/041004/newamer_1.html). Many Steel stocks including Laxmi Mittal's Ispat International (IST on NYSE) have done quite well in recent months.

-- Milind

Please read the attached file which I have taken from Traders Edge India website for the difference between fundamental & technical analysis.

 

[sudoku1]

Uttam Steels Ltd. - Mid cap stock pick

About Uttam Steels Ltd.

With a modest beginning in the year 1988 with a Wet-Flux Galvanizing line in technical collaboration with M/s John Lysaght of B.H.P. Australia, today Uttam Galva Steels Ltd. has two modern galvanizing lines with a total capacity of 240,000 tons/year. UGSL has its own cold rolling facility with a capacity of 420,000 tons/year. Balance of CR are converted to value added grades in CRCA coils, cut to length sheets and also sold as Full Hard CR in overseas market.

UGSL is today, one of the largest producers of CR & GP/GC products, in the Western part of India, with a turnover of about RS. 8,500 million (US $ 180 million). More than 70% of its products are currently exported to 89 countries worldwide, with China, USA and African countries as its focus areas.

In the Indian market, UGSL is an established player for the supply of CRCA to most of the manufacturers of automobiles, white goods, general engineering, Drums & Barrels etc. It is also a large supplier of Galvanized coils and sheets as well as galvanized corrugated sheets to construction industries. Its Swan brand is well known in the major parts of rural India.

UGSL is working towards being a ONE STOP SHOP for all steel flat products, tailor made as per customer requirements ,namely,CRCA,Galvanized coils,cut to length sheets,HR Pickled and Oiled coils etc. It has a road map to maintain its compounded growth of 25% being achieved over the last few years.

For trading signals, stoploss and more on Uttam Steels Ltd. please see attached chart.

the stock has rewarded its holders since then ...who never dreamt that it may catch the eye of the steel tycoon MITTAL