Indian Toner update...
INDIAN TONER investing Rs 45 crs in ITDL Imagetec ltd its subsidairy. Its equity is Rs 8 crs and market cap is just Rs 24 crs.
This co is a multi bagger in view of the fact that it is investing Rs 45 crs in its subsidairy which has been announced in BSE announvement.
"the Board of Directors of the Company for making investments, to acquire by way of subscription, purchase or other-wise the Equity Shares, giving Corporate Guarantees, providing Securities, giving Loans and Advances, etc. not exceeding Rs 45 crores in / to ITDL Imagetec Ltd, a Subsidiary Company of Indian Toners & Developers Ltd"
Indian Toners & Developers Ltd has informed BSE that the Company has decided to set-up a New Project in Sitarganj in the state of Uttranchal for the manufacture of Toners and Developers.
In view of the same we suggest long term saavy investors may catch this early recomenation of I Develop.
Since the board is investing Rs 45 crs its net worth has to be at least Rs 45 crs which will happen at market price of Rs 60. It is very unlikey that promoters may shed further stake anything below Rs 60 per share. At the same time it is also certain that promoters are going to pump in Rs 45 crs leaving no doubt the the stock is under priced.
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