Indian Stock Market News and Analysis

DEAR long term investor

the topicstarted with kojam finance which is supposed to
beaholdingcompany of guj. glass. what is your exact recommendation on
kojam ?

you discussed some other company -kashyap

please clarify

podury

On Sep 13, 11:57 am, "long term investor" < sharest…@gmail.com>
wrote:
> Hi friends,
>               again sonia sharma is back.dont get stuck in her operator
> stocks.kojm wht she is not factoring in is holds 50% and not 100% of gujarat
> glass.
>
> *Scrip Code*:532536   *Company Name*:KOJAM
> FIN</price_finder/stockreach.asp?scripcd=532536>
>
>  February, 1 2007
>
>   *News Subject:*
>
> Kojam Fininvest - Outcome of Board Meeting
>
>  *News Body:*
>
> Kojam Fininvest Ltd has informed BSE that the Board of Directors of the
> Company at its meeting held on January 31, 2007 has considered and approved
> a Scheme of Arrangement and Amalgamation u/s 391 to 394 of the Companies
> Act, 1956. The Scheme envisages merger of the Company into Gujarat Glass Pvt
> Ltd ('GGL') which is an unlisted subsidiary of the Company.
>
> GGL is engaged in the business of manufacturing Glass Containers. The
> Company holds 53.86% of the equity share capital of GGL. Apart from
> investment in GGL, the Company does not have a substantial asset base.
>
> Consolidation would result in the following synergies:
>
> - enable the shareholders of the Company to participate directly in the
> fortunes of GGL instead of through the Company as at present.
>
> - result in reduction of the administrative costs.
>
> - result in saving in dividend distribution tax.
>
> The valuers (M/s. Dalal and Shah, Chartered Accountant) have recommended the
> Share Exchange Ratio of 0.9317 share of Rs 10/- of GGL for every 1 share of
> Rs 10/- held in the Company. GGL's shares held by the Company will get
> cancelled on the Scheme becoming effective and the same number of shares to
> be distributed to the shareholder of the Company.
>
> However for the sake of administrative convenience and in interest of the
> public shareholders of the Company, Board has approved the ratio of 1 equity
> share of Rs 10/- of GGL for 1 equity share of Rs 10/- held in the Company (
> i.e 1 for 1). Consequently share capital of GGL shall stand increased from
> Rs 17.30 crores to Rs 17.98 crores. RSM Advisory Services Pte Ltd are the
> advisors to the restructuring exercise.
>
> The salient features of the Scheme are as under:
>
> - Appointed Date is fixed as April 01, 2007.
>
> - GGL to issue shares to shareholders of the Company in consideration for
> merger in the ratio as stated above. The Company shares will get delisted
> and GGL shares will be listed.
>
> - On the Scheme becoming effective, the Investment in GGL as appearing in
> the books of accounts of the Company shall stand cancelled.
>
> - With effect from the Appointed Date, all assets and liabilities of the
> Company shall be vested in and transferred to GGL.
>
> The Scheme is subject to requisite consents and approvals of the concerned
> authorities. The Scheme has also been approved by the Board of Directors of
> GGL.
>
> EARLIER ALSO I HAD POSTED AN ARTICLE ON KAASHYAAP AS TO WHY PEOPLE SHOULD
> NOT BUY IT AGAIN IT WAS BEING RECOMMENDED AGAIN AND AGAIN
>
> PENNY SELL IDEA
>
> EXIT EXIT AND EXIT
>
> KAASHYAAP TECH
>
> Our informed sources have revealed us some interesting facts which we are
> sharing with all our readers.
>
> The promoters of the company has most dubious and shady past records with
> investors.
>
> They have in past duped investors in gv films( a group company under the
> same management of usha venktramani ).
>
> Everyone should remember that even in as recent past as one year back some
> rosy reports with good projections were circulated in Google groups and
> investors.the price of gv films moved from 1 rs to 4 rs(similar to kaashyap
> tech move from 2 to 6) based on the nexus based news flow among the
> operators and the management.the company made rosy projections about its
> future.(similar to aggressive projections made by kaashyaap management in
> recent past)
>
> Interestingly similarly to gv films,kaashyaap has acquired some dubious
> dubba companies and we have strong news that the company will come out with
> a rights issue t 4 rs and the price wont ever come again.
>
> investors should see for themselves and invest, a company which is being
> served notice for 15 cr dishonor of cheque by uti bank (now axis bank).talks
> of a revenue of 450 cr by fy10.we believe its time that investor gets out of
> these stocks.
>
> A recent past analysis has shown that the rs 1 face value gv film stock
> moved to 3 rs (30 rs on the present face value) to less than 8 rs.
>
> The company kaashyap did a fccb whose shares have been offloaded in public
> domain by the funds after creting the hype about the stock.
>
> we say
>
> EXIT EXIT AND EXIT
>
> PRICE MIGHT GO TO 20 OR 200 BUT WE T TEAM STOCKRESEARCHERS,BELIEVE IF YOU
> STAY HERE PROFITS WILL COME, BUT THESE STOCKS WILL KNOCK YOU OUT FROM THE
> MARKETS.
>
> ARTICLE IS COPIED FROM THE NIFTYVIEWS.BLOGSPOT.COM
>
> On 9/13/07, Guru <gurudatt…@gmail.com > wrote:
>
>
>
> > Kojam Finvest Limited is listed on BSE and NSE. Kojam is a pure holding
> > company owning a 54% stake in Gujarat Glass Limited.
> > Gujarat Glass has focused on being the leading provider of "flaconnage"
> > (glass containers for the quality conscious pharmaceutical and cosmetics
> > industries). GGL enjoys a leadership position in the niche pharmaceutical
> > packaging segment that it operates in. GGL is the only company in India and
> > one of the few in the world who manufacture and market the entire pharma
> > range of glass bottles and vials (amber and flint, bottles and vials,
> > sodalime and borosilicate).
>
> > Sonia Sharma: GGL has 3 manufacturing facilities - in Kosamba, near Surat,
> > about 300 kms. northwest of Mumbai, Jambusar near Baroda, about 100kms
> > beyond Kosamba, and at Ratmalana, in Sri Lanka. Jambusar plant is the
> > world's largest pharma amber bottles manufacturing plant at a single
> > location. In all, the 7 furnaces of the company with 27 automatic production
> > lines, many of which are electronically controlled state-of-the-art
> > machines, produces 7 million glass bottles and vials every day throughout
> > the year for quality conscious customers in the healthcare and cosmetics
> > industry. Power is an important input in glass manufacturing. To ensure
> > regular and high quality power supplies, Gujarat Glass has two natural gas
> > based captive power plants at Kosamba and Jambusar to meet its power
> > requirements.
> > It ha
> > For the year ended March 31, 2007, GGL's sales were Rs 400 crs, EBIDTA Rs
> > 105 crs and PAT Rs 35 crs and an EPS of 22.
> > Kojam currently trades at abt 200 / share with a mkt cap of 200 crs.
> > Transaction
> > Kojam is under the process of merger with GGL. Shareholders of Kojam will
> > receive 1 share in GGL for every 1 share held in Kojam.
> > Value Proposition
> > 1. All investment companies are typically traded at a discount of 50% to
> > the underlying investments. (eg. Balmer Lawrie, Consolidated Finvest, Jindal
> > South West Holdings, Tata Investment Corporation etc..). On merger this
> > discount will disappear as Gujarat Glass will be a operating company.
> > Implied value on listing Rs 400 / share
> > 2. Assuming a trailing PE Ratio of 18, price per share works out to Rs
> > 396.
> > There will be no dilution in the
> > There will be no dilution in the equity of GGL on account of the
> > merger….. a clear upside of 100% in the next four months….
> > The Bombay High Court has approved the merger scheme on Aug 10, 2007

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