TAYO ROLLS SOME NEWS
I missed this one since I was bearish on the market and was not buying any new positions at the time.
Tayo is on a roll with a nice upward pattern to it. I think if you hold, then continue to do so. Everything looks good, although somehow money flowing into it is showing a very slight weakness to it. There could be two reasons: More selling than buying, but that is not evident in the volume or OBV, so it has to be lack of buying by new investors/MF/FIIs. I know it is the latter since as stock price has appreciated, the volume is not there.
Keep in mind, I said “VERY SLIGHT WEAKNESS”. This means that you just want to keep a watch on it. It might just be a temporary situation, and it is only one single thing.
So, all in all you are doing well with it, and I would hold on to it. Do not buy more right now until the stock pattern is confirmed.
KKP
uncanny wrote: > hi kkpji > > i have positions in tayo roll as per advice of kukkuji and > valueinvestorji > > i am observing that it is getting consolidated around 277 or 280 > > pl give some ideas abt its TA > > i want to know whether we can take any position for shorterm > > mahavan babu > > On Sep 6, 8:48 am, “Bhushan Shukla” wrote: > >> Thanks for the latest updates. Your posts are eagerly awaited by all >> members. >> >> On 06/09/07, value investor wrote: >> >> >> >> >> >> >> >> >>> Hi All >>> >>> *Recommending it from Rs 148 levels Tayo Rolls has some more news to >>> share* >>> ** >>> >>> Tayo Rolls - Ground Breaking (Bhoomi Pujan) Ceremony >>> >>> *News Body:* >>> >>> Tayo Rolls Ltd has announced that the Company and Yodogawa Steel Works Ltd >>> & Nissho Iwai Corporation (since merged with Sojitz Corporation), Japan, >>> having established itself as a leading Cast Iron and Steel Roll >>> manufacturer, now enters into Engineering Forging and Forged Roll segment. >>> >>> The Company has been in the Forged Roll market since 1999 through Finish >>> machining of Rough turned hardened forged steel blanks, imported from USA. >>> Having tested the domestic Forged Roll market and in order to cater to the >>> increase in demand for Forged Rolls, the Company felt appropriate to have >>> its own facility for manufacture of Forged Rolls. The Company is now puffing >>> up integrated facilities for manufacture of Forging Quality Ingots >>> (including round ingots), Forged Bars, Engineering Forgings and Forged >>> Rolls. The total outlay for the project is estimated at Rs 142 crores. The >>> plant would be coming up at the Company’s present location, at Large Scale >>> Industrial Estate, Gamharia, Jharkhand. >>> >>> The project envisages setting up three modem facilities. A Ladle Furnace & >>> Vaccum Degassing unit would be added to the existing Melt Shop consisting of >>> MBF and Arc Furnace to manufacture Forging Quality Ingots, including round >>> ingots. A modem Forge Shop with 2,500 tonnes open die forging press along >>> with other auxiliaries would be set up for the manufacture of Engineering >>> Forgings and Forged Roll Blanks. A state of the art Induction Hardening >>> facility, a core requirement for Forged Rolls would also be set up along >>> with other facilities like cryogenic treatment, heat treatment and machining >>> facility to manufacture Forged Rolls. >>> >>> The Company would be manufacturing Forging Quality Ingots, including round >>> ingots, Engineering Forgings for oil, gas, wind mill and for other >>> engineering application apart from Forged Rolls, With Tata Steel’s >>> acquisition of Corus, the Company would have greater opportunity to meet >>> growing demand of Rolls within the Group. >>> >>> To successfully adapt the required technology, the Company would tie-up >>> with Sheffield Forgemasters International Ltd, United Kingdom, a leading >>> Forged Roll and Engineering Forging manufacturer of international repute, >>> for transfer of technology for the manufacture of Forging Quality Ingots >>> upto 25 tonnes, Forged Rolls (Work Rolls and Back-up Rolls) and Engineering >>> Forgings. >>> >>> The “Bhoomi Pujan” ceremony for setting up the integrated facilities was >>> performed on September 05, 2007, at the Company’s Works, Gamharia, 16 km. >>> away from Jamshedpur. Mr. B Mathuraman, Managing Director, Tata Steel, was >>> the Chief Guest on the occasion. In his address while congratulating the >>> Company, Mr. Muthuraman said that the company is taking right step at the >>> right time to meet the growing need of steel sector. He advised that the >>> Company should continue its endeavour to think Big and keep creating value >>> to its various outputs. He appreciated the Company’s contribution to the >>> steel industry globally by supplying high quality rolls and outstanding >>> customer’s service, Mr Chairman, of the Company, welcomed the guests. The >>> gathering was also addressed by Mr. Rakeshwar Pandey, President, the Company >>> Workers Union and Mr. Geoff Marston, from Sheffield Forgemasters >>> International Ltd., U.K.. Mr. Suzuki spoke on behalf of the Company’s co >>> promoters, Yodogawa Steel and Sojitz Corporation. He reiterated their >>> commitment to the Company for all its endeavours both technically and >>> financially. Vote of thanks was given by Mr. Pradeep Srivastava, Managing >>> Director, of the Company. Mr. Nisbimura from Yodogawa Steel Works and other >>> Executives from Sojitz Corporation, Japan, were also present along with the >>> Sr. Executives of Tata Steel and other Tata Steel associate Companies. >>> >>> This would definitely go a long way in positioning the Company not only as >>> a leading Cast Roll manufacturer but also would give a rare distinction to >>> the Company in becoming a ‘One stop shop’ for all categories of rolls >>> towards fulfilling the requirements / demand of the growing Steel Sectors, >>> both domestic and overseas. >>> >>> — >>> VALUE INVESTOR >>> >>> Top line is Vanity, Bottom line is sanity, Cash is reality >>> >> — >> Bhushan Shukla- Hide quoted text - >> >> - Show quoted text - >> > > > > > >
