Bartronics India Ltd has informed BSE that pursuant to the special resolution passed by the members of the Company through Postal Ballot on January 11, 2010 and the approvals given by the Stock Exchanges, the Management Committee of the Board of Directors of the Company at their meeting held on February 18, 2010 have approved the resolution to issue and allot
1. 22,00,000 Equity Shares and 63,00,000 Warrants convertible into Equity Shares of Rs. 10/- each at a premium of Rs. 222/- each to promoters and promoter group.
2. 4,93,065 Equity Shares and 20,00,000 Warrants convertible into Equity Shares of Rs. 10/- each at a premium of Rs. 152.25 each to non promoters
Under Section 81(1A) of the Companies Act, 1956 by way of Preferential Allotment.
February 21, 2010
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2 comments:
Big Accounts Dool!!
The total Indian Smart card industry is $80 million i.e. 400 Crs, now bartronics turnover for the nine months declared is 580 Crs, going by the statement of Mr.Sudhir Rao that 50% of the companies turnover comes from smart cards, i.e. 290 Crs, and a again assuming that 50% of this comes from local market i.e. 140 Crs, this means that bartronics has a market share of 35% of the indian smart card market,but unfortunately as per statictics Bartronics has between around about 10% share - i.e. 40Crs, this mean that the balance 100Crs are just NOTATIONAL SALES
http://economictimes.indiatimes.com/markets/stocks/views/recommendations/buy-bartronics-when-the-market-stabilises-ashwani-gujral/articleshow/8387337.cms
What is the call on Bartronics?
It is a midcap play but often has large declines. It declined from levels of almost 200 to about 60 bucks. Now it is trying to make some base which gets confirmed above 72. So it has got a long way up.
If it bottoms out at 72, next target would be 95-96 but these are stocks you buy once the market stabilises and everything starts moving higher. Otherwise, these one or two day moves fizzle out.
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