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BUY Recommendation

posted Aug 14, 2009, 12:10 AM by Mohit Kumar   [ updated Aug 14, 2009, 12:11 AM ]

Time to open a new position in our portfolio which continues to impress. The name of the company is one of the most bizarre ones I have come across, but there are much better reasons to buy:
  • Headquarters in Hong Kong
  • Engaged in industrial plant engineering and equipment supply business and has a royalty interest in the Wabush iron ore mine.
  • Strong balance sheet with around $356 million in cash.
  • Operates in India, China, Germany and few other international regions.
  • Growth in Asia could have a positive impact on its business
  • With recovery of industrial growth, cement consumption will increase and business could flourish.
  • Economic slowdown has hammered its growth rates and operating results.
  • Recovery could take quite sometime but when it does, the stock may soar!

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