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Ahmednagar Forgings
BSE Announcements on Ahmednagar Forg
Posted by :
MMB MessengerTracked by: 0 Boarder
Ahmednagar Forgings Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from December 27, 2008 to December 31, 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company....
Excellent Buy
Posted by :
surenindyaTracked by: 0 Boarder
The merger proposal of Ahmednagar Forging, Amtek Auto, Amtek India and other companies can be seen at Amtek Auto website....
Excellent Buy
Posted by : surenindyaTracked by: 0 Boarder
Ahmednagar Forging is to be merged with Amtek Auto along with Amtek India and other companies. The conversion ratio is very favourable for Ahmednagar Forge share holders. 100 shares of Ahmed Forge are to be converted to 56 shares of Amtek Auto. Thus Ahmed Forge share holders can get Amtek Auto @ 40.80:- 2285/56. While closing of Amt Auto on 4/12/08 was 49.80 i.e. a discount of 18%.
Once the group merges, its fundamentals will improve considerably. The MV will be less than BV, P/E will be below 3. The amalgamated company will have facilities in UK-3, Germany-2, USA-2, and 13 places in India e.g. Ahmednagar, Baddi, Bhopal, Chennai, Coimbatore Gurgaon, Bhiwadi, Ranjangaon. The merged entity will be original equipment supplier to reputed international companies listed below. While the auto market is down at the moment, this company is not expected to do badly and with a discount of 18% the Ahmednagar Forging shares are a definite buy. The merger proposal is with the High Court and once the dates are announced it will take 3 months for the formalities to be completed. As the reference to High Court was made some time ago, it is expected to come up soon and the merger procedure started.
Both Ahmednagar Forging and Amtek Auto have announced dividends as Re1/= and Re.0.50/= respectively. Here also one stands to gain. Once the merger process starts the discount will reduce considerably.
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NSE Announcements on Ahmednagar Forg
Posted by : MMB MessengerTracked by: 0 Boarder
Ahmednagar Forgings Ltd has informed the Exchange regarding Audited Annual Financial Results for the year ended June 30, 2008. The details of the same shall be available on the NSE website (http://www.nseindia.com) under Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
NSE Announcements on Ahmednagar Forg
Posted by : MMB MessengerTracked by: 0 Boarder
Ahmednagar Forgings Ltd has informed the Exchange that the Board of Directors of the Company in its meeting held on December 01, 2008 have considered and approve the followings:(1) Recommended dividend to its equity shareholders @ 10% for the year 2007-08 i.e. Rs.1.00 per equity share of Rs.10/- each. Further the Register of Members and Share Transfer Books of the Company shall remain closed from December 27, 2008 to December 31, 2008 (both days inclusive) on account of Annual General Meeting to be held on December 31, 2008 and payment of Dividend....
BSE Announcements on Ahmednagar Forg
Posted by : MMB MessengerTracked by: 0 Boarder
Ahmednagar Forgings Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 01, 2008, inter alia, has recommended dividend to its equity shareholders @ 10% for the year 2007-08 i.e. Rs 1.00 per equity share of Rs 10/- each....
Buy/Sell
Posted by : surenindyaTracked by: 0 Boarder
I agree about 3 to 4 years investment horizon. It will be far better than bank FD etc and it will definitely beat inflation.
Do you think the low of 27 Oct 2008 will be breached in this FY?...
In reply to:
Buy/Sell
Posted by : Madineedi
They should not give dividend at that cost right now, it just gives a foul play to the investors. What they should be doing right now is cutting down on inventory and cope with reduced orders. To cope up with this they need to reduce their dividend.
They need to have cash at this point of time not throw it to investors. If they give such dividend now it is obvious that the management is lobbying to satisfy some high profile investors.
I still have exit call and i sold my stock in this company so i cannot predict about future of this company. Right now i dont have any investments in any company just staying with my cash. If you want to invest, buy and stay for almost three to four years it fetches huge return. 
Buy/Sell
Posted by : MadineediTracked by: 0 Boarder
They should not give dividend at that cost right now, it just gives a foul play to the investors. What they should be doing right now is cutting down on inventory and cope with reduced orders. To cope up with this they need to reduce their dividend.
They need to have cash at this point of time not throw it to investors. If they give such dividend now it is obvious that the management is lobbying to satisfy some high profile investors.
I still have exit call and i sold my stock in this company so i cannot predict about future of this company. Right now i dont have any investments in any company just staying with my cash. If you want to invest, buy and stay for almost three to four years it fetches huge return. ...
In reply to:
Buy/Sell
Posted by : surenindya
You have been proved right. Now on 01 Dec 2008, the AGM is to consider dividend for YE 06/08. Do you think they will repeat 20%?The BV is very high compared to MV. They can afford to give dividend.
What`s your view?
Buy/Sell
Posted by : surenindyaTracked by: 0 Boarder
You have been proved right. Now on 01 Dec 2008, the AGM is to consider dividend for YE 06/08. Do you think they will repeat 20%?The BV is very high compared to MV. They can afford to give dividend.
What`s your view?...
In reply to:
Buy/Sell
Posted by : Madineedi
My analysis about ahmednagar forging reaching 25-28 levels has been proven to be right. From purely technical perspective this company shares may reach 18-21 range in near time. A lot of negativity about forging sector and worst global financial crisis will take this company from these levels to 18-21 levels.
Exit and buy this company at 18-21 levels. I hate posting this technical analysis about this company as i hold shares of this company in my portfolio.
BSE Announcements on Ahmednagar Forg
Posted by : MMB MessengerTracked by: 0 Boarder
Ahmednagar Forgings Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on December 01, 2008, to consider and approve the Audited Annual Financial Results for the Financial year ended June 30, 2008 and to recommend declaration of dividend....
Buy/Sell
Posted by : MadineediTracked by: 0 Boarder
My analysis about ahmednagar forging reaching 25-28 levels has been proven to be right. From purely technical perspective this company shares may reach 18-21 range in near time. A lot of negativity about forging sector and worst global financial crisis will take this company from these levels to 18-21 levels.
Exit and buy this company at 18-21 levels. I hate posting this technical analysis about this company as i hold shares of this company in my portfolio. ...
In reply to:
Buy/Sell
Posted by : surenindya
While the whole world economy is looking weak, Ahmednagar Forge may still be a buy. It closed at 30.9 on wednesday,the 12th nov. As per scheme of amalgamagation 100 shares of Ahm For will get 56 of Amtek Auto Ltd. Amtek Auto`s closing price on wed was around 64.50. Thus AHM FOR 100*30.9= 3090/56 = 55.18/64.5 = 85.5 i.e. discount of 14.5% to be realised within a few months.
This seems enough safety margin for getting shares of a merged entity, already well established as Original Equipment Supplier to the leading companies. The economies, productivity, cost benefit and sales and service efficiencies will give the merged Amtek Auto a robust eps even in present times.
Some other discounts available are: (1) Morgan Stanley Growth fund selling at a discount of 5% to NAV, which will be redeemed in early Feb2009.(2) Another discont available is Tata Steel CCPS (traded on BSE), which is available at a discount of 9% to Tata Steel rate, and will become equity shares on 01Sep2009 i.e. 9 and a half months later.
Happy bargain hunting!
Buy/Sell
Posted by : surenindyaTracked by: 0 Boarder
While the whole world economy is looking weak, Ahmednagar Forge may still be a buy. It closed at 30.9 on wednesday,the 12th nov. As per scheme of amalgamagation 100 shares of Ahm For will get 56 of Amtek Auto Ltd. Amtek Auto`s closing price on wed was around 64.50. Thus AHM FOR 100*30.9= 3090/56 = 55.18/64.5 = 85.5 i.e. discount of 14.5% to be realised within a few months.
This seems enough safety margin for getting shares of a merged entity, already well established as Original Equipment Supplier to the leading companies. The economies, productivity, cost benefit and sales and service efficiencies will give the merged Amtek Auto a robust eps even in present times.
Some other discounts available are: (1) Morgan Stanley Growth fund selling at a discount of 5% to NAV, which will be redeemed in early Feb2009.(2) Another discont available is Tata Steel CCPS (traded on BSE), which is available at a discount of 9% to Tata Steel rate, and will become equity shares on 01Sep2009 i.e. 9 and a half months later.
Happy bargain hunting!...
In reply to:
Buy/Sell
Posted by : surenindya
While the whole world economy is looking weak, Ahmednagar Forge may still be a buy. It closed at 30.9 on wednesday,the 12th nov. As per scheme of amalgamagation 100 shares of Ahm For will get 56 of Amtek Auto Ltd. Amtek Auto`s closing price on wed was around 64.50. Thus AHM FOR 100*30.9= 3090/56 = 55.18/64.5 = 85.5 i.e. discount of 14.5% to be realised within a few months.
This seems enough safety margin for getting shares of a merged entity, already well established as Original Equipment Supplier to the leading companies. The economies, productivity, cost benefit and sales and service efficiencies will give the merged Amtek Auto a robust eps even in present times.
Some other discounts available are: (1) Morgan Stanley Growth fund selling at a discount of 5% to NAV, which will be redeemed in early Feb2009.(2) Another discont available is Tata Steel CCPS (traded on BSE), which is available at a discount of 9% to Tata Steel rate, and will become equity shares on 01Sep2009 i.e. 9 and a half months later.
Happy bargain hunting!
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