Lloyds Steel Fireworks…from Rs 16 to Rs 19 on Friday…now approaching Rs 20

Lloyds Steel Fireworks…from Rs 16 to Rs 19 on Friday…now approaching Rs 20

Look at Friday Volumes on BSE

 So what’s triggering yet again in Lloyds Steel….Insiders seem to know and are buying heavily….have zoomed the scrip up in a day from a low of Rs 15.70 on Thursday to a High of Rs 19.50 on Friday…that’s 24% surge

And today on Monday June 6,2011 the price is approaching Rs 20 with volumes on BSE already at 32 lakh shares by 10.30 am

Lloyds Steel had replied to a BSE Query in April 2011 on a Business Standard article that spoke of a possible takeover by Uttam Galva…. http://www.bseindia.com/stockinfo/anndet.aspx?newsid=97fb936e-2ab5-4df9-a9dd-b6f64d25fb9a ….they had denied their Wardha plant was up for sale

Lloyds Steel has also declared their FY 11 Results…small loss again of Rs 59 crs…Equity is now Rs 392 .66 crs while Reserves are negative at Rs 847.34 crs…huge accumulated loss……Debt in the Books disclosed by the company in the above clarification was Rs 741 crs at December 31,2010 

http://www.bseindia.com/stockinfo/anndet.aspx?newsid=6ec5af97-a663-49c1-909f-6dbf08710ed4

Their Engineering Division is making health Profits…Rs 66 crs on Sales of Rs 326 crs (this is under 11% of Total Net Sales of Company at Rs 2978 crs) with Capital Deployed of just Rs 64 crs…methinks this will be spun off this year as planned…me also thinks an imminent sale of the steel unit is looming ahead for Institutions to recover their funds 

Methinks Guptas who have jumped their holdings from 17.44 % to 53.09 % by conversion of warrants allotted to themselves earlier will not settle for sale at any price below Rs 30

So watch out for Lloyds Steel Fireworks….it’s crossed Rs 20 on BSE as I end this Blog at 10.50 am