A good penny stock : Birla Cotsyn

Stock : Birla Cotsyn
Birla Cotsyn started its operation in 1932 as a flagship of the Yash Birla Group, one of the largest industrial conglomerates in India. The Sprawling unit is located at Khamgaon (M.S) in the industrial belt of Central India. Birla Cotsyn (India) Limited is having Synthetic Blended Ring Spun Yarn manufacturing facility with state of Art machineries at Khamgaon. The company has excellent sales network in India and abroad for Grey and Dyed Solid Griddles, Fancy, Industrial Knitting and Sewing Ring Spun Yarns in various blends and count range from NE 8s to 60s.
The Yash Birla group promoted Birla Cotsyn India (BCIL) has 50:50 Joint venture with the P.B.Bhardwaj Chairman Sunflag Group. In the first phase, the Rs. 315 core integrated textile complex will manufacture open end, rotor based cotton yarn with an installed capacity of 1728 rotors. It will have 114 looms to weave fabric.
The state government has conferred the ‘mega project status’ to the project.
Having acquired 100 acres of land at MIDC, Malkapur, we are expanding current capacities from 21000 spindles to 36,000 spindles. With a proposed 1728 rotors and 114 looms, our capacity is bound to rise to 50,000 meters per day.

• CMP : 1.30
• 52 Week H/L : 1.47 – 0.33
• Targets : Rs 4 – 5
• Time Frame : 1 Year.
• Stop Loss : None for Long Term Investors.

It is coming up with :

• Process house with a capacity of 50000 meters per day under progress
• 114 Airjet weaving machines under installation
• Own showrooms under progress
• Currently has good business and is Yash Birla Group!

Developments around so sounds good. More over it is available at the IPO rate. Signal – BULLISH

These all factors make it a BUY for this penny stock for Long term.

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