[Attachment(s) from Maverick included below]
| TN Petro-Worth Taking A Chance BSE 500777; CMP Rs 21; Cum Dividend Rs 0.50/share The market is rife with rumours that the co-promoters of Henkel-the AC Muthiah Group will be selling off their 17 per cent stake in Henkel to the German parents. Henkel AG, Germany already owns 50.97 per cent of Henkel India, and if the deal goes through this will imply consolidation for the FMCG segment which is so far dominated by HUL, P&G and Godrej. The positive for investors in TNPetro? Cash from the sell-out will go to TNPetro through which Dr. AC Muthiah holds his investment in Henkel. This works out to Rs 119 crore or Rs 12 per share of TNPetro. At Tuesday's closing price of Rs 59, Henkel is valued at Rs 700 crore approximately, out of which 17 per cent accrues to TN Petro or roughly Rs 119 crore. Compare this to the total market cap of Rs 188 crore for TN Petro, and investors would notice that TN Petro's 50,000 TPA LAB Plant (an input for soaps and detergents) sells for Rs 70 crore or a mere Rs 8 per share. TN Petro owns 1,93,95,900 shares or 17 per cent of the Rs 116 crore Equity of Henkel. Cash received from disinvesting stake in Henkel will allow TNPetro to proceed with it's expansion plans that amount to $ 250 mn or roughly Rs 1200 crore. TPL has strategically forged strong alliances with Henkel KGaA, Germany and VANTICO (Erstwhile Ciba Specialties Ltd) for manufacture of Detergents and Epoxy Resins respectively. Having established itself in the domestic market, TPL is now looking beyond national boundaries and aims to become a significant player in the global market backed by its core competency in LAB business, strong financials and the drive to excel. TPL is in the advanced stages of setting up a US $ 250 million Linear Alkyl Benzene project at Yanbu, Kingdom of Saudi Arabia. TPL is poised to take a strong position in the global economy -- in the process proving to be a true Shining Star. |
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Attachment(s) from Maverick
3 of 3 File(s)
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http://in.groups.yahoo.com/group/investwise/
INVESTMENTS IN INDIA
We are low-risk, long-term investors.
Stocks, mutual funds and the entire investment gamut. Only financing/investment avenues in India will be discussed.
For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in
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NEW! ==== Check "Tracklist" in Links and Files sections for Investment Ideas.
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