BUY GOODLUCK INDIA IN NSE CMP 91, FOR TRADERS STOP LOSS IS 85, FOR MEDIUM TO LONGTERM INVESTORS STOP 80. SHORT TERM TARGET 98, LONGTERM TARGET 125, 175,225.
WHY GOODLUCK IS BUY
India Ltd is coming up with new manufacturing facility for its existing line of business eg. Steel tubes, pipes, precision tubes etc. at its land situated at Village: SikraTaluka-Bhachau (Kachchh), Gujarat. The company's existing manufacturing capacity is 2, 30,000 MTPA and presently running at optimal capacity utilization. The proposed manufacturing facility of approx 72000 MTPA will add in the company's total production capacity.
The proposed manufacturing facility is coming up at company's already owned land in Gujarat with the total investment of 74 Cr which will met by debt and internal accruals/promoters contribution. The Plant is expected to be commissioned by April 2018.
The location of proposed facility is within proximity of two ports i.e. Kandla Sea Port and Mundra Sea Port and strategically very suitable to the proposed project as it will reduce freight cost for exports to a significant extent and will give an edge over the competitors. Beside that proposed location for the project is well equipped with all the basic amenities and infrastructure facilities for the industry.
During dec 2015,In line with Company’s growth strategy, Good Luck has achieved another milestone with the approval of RDSO (Research Design & Standards Organization), Ministry of Railway, India for fabrication and supply of Steel Bridge Griders.
Indian Railway, one of the world’s largest network, is in big ticket expansion mode with planned Dedicated Freight Corridors (DFCs) of approx. 6200 kms and upgrade feeder route to DFCs of approx. 6000kms. Further, Railway plan to convert all railway crossings to Railway Over bridges (ROBs) is offering approx. 3mn. metric ton capacity of fabricated bridge.
M C Garg, Chairman said, “This is a major boost for company’s structure division and justify ongoing capex of Rs. 30 cr. Railway is one of the key focus sector of Good luck’s future vision. This approval is likely to give wings to achieve our target.” The Company is visualizing a huge scope of its products such as CDW tubes, forging, structure fabricated items in the Expansion of Railway Infrastructure. The Company is eying a good amount of share from different railway projects. Good Luck has already got entry in LHB coach parts & HTM, motor shaft in Electric loco engines.In coming years, there will be big thrust in railway infarstructure
