February 2006-- Sensex at 10000 - Risking to buy

Didnt post for sometime as it is becoming very difficult after every 100 point rally to find stocks which are fundamentally good and have not run out of breath by this time.

A stock which is recently in the news is Ramakrishna Forgings in which UTI Investment Advisory Services Limited A/c Ascent India Fund has acquired 22,52,520 shares aggregating to 14.99% of the total paid up capital at Rs. 98 per share.

This Jamshedpur based company is an Auto-ancillary unit

The company has three state of art manufacturing units- first in the industrial plot at Jamshedpur, second at Liluah and unit three a 100% EoU at Jamshedpur. The Company’s existing forging facility comprises of hammer forge, upsetter forge and ring rolling forge with the total capacity of 26,900 MTPA.

The Company is manufacturing a variety of auto transmission products including valve bodies, bearing races, piston forgings, ring gear housing and speed gears for a diverse set of customers spanning leading Commercial Vehicle companies and Indian Railways.

It has announced it intentions for a GDR issue.

The stock has run upto 127/-

Maybe considered for buying on declines

Bye for now