Maybe Caps should give us say 10 picks we can make for stocks under $100M cap
Reason is simple, there are many of us missing out on potential 10 baggers because we are not allowed to pick them at the very beginning.
One example is IGC, which had big news that could make it a 10 bagger but guess what we can't pick it till its gains are almost over.
India Globalization Capital's Mining & Materials Segment Completes Preparation Needed to Export Iron Ore On Thursday May 21, 2009, 12:19 pm EDT Related: India Globalization Capital, Inc.
Begins Foray into Supply Contracts with Chinese Companies
BETHESDA, Md., May 21 /PRNewswire-FirstCall/ -- As previously announced in a press release dated May 7th, 2009, India Globalization Capital (AMEX: IGC
), a company competing in the rapidly growing infrastructure industry in India, announced that its first shipping hub is ready to export iron ore from mines in India to customers worldwide, and that it has initiated supply contracts with Chinese Companies.
As outlined in the release, India Globalization Capital has expanded its business model from heavy construction and road building to include a Mining and Materials business segment. Our initial focus is to supply rock aggregate and iron ore to the rapidly growing infrastructure industry in India and abroad.
We have created our own shipping hub at one of India's primary ports, the Krishnapatnam Port, on the east coast of India. The hub will serve as our doorway to a global export business. The hub streamlines our production and distribution capabilities and allows us to aggregate ore from smaller suppliers before shipping. We have also entered into agreements with mines in India for the supply of iron ore. We have set up banking facilities with a private Indian bank for working capital and credit facilities, and we have initially entered into supply contracts with two Chinese companies. According to the Mineral Information Institute about 98% of iron ore is used to make steel, a critical part of infrastructure projects worldwide.
"Today's announcement represents six months of planning and preparation associated with expanding our business plan from building roads, bridges, and highways to supplying materials including rock aggregate and iron ore. The addition of the export hub and its associated operations will supplement our mining and materials business and is expected to be substantively accretive to our revenue and earnings over the short and long-term," said Ram Mukunda, Chief Executive Officer of India Globalization Capital.
Laura Wood, a Senior Research Manager for Research and Markets, a leading international market research house, in a published Reuters article dated February 27th, 2009, said, "A key element showcasing India's economic rise is the considerable changes in the country's building and construction industry. The building materials sector in India is a key constituent of the country's construction industry. Driven by recent growth in the infrastructure and the construction industry, the building material sector has recorded considerable growth over the last few years. Furthermore, India's economic performance and rapid increase in per capita income signal excellent growth prospects for this sector."
India Globalization Capital is a construction and materials company operating in India, which builds roads, bridges and highways, and provides materials to the infrastructure industry in India.
The company has offices in Maryland, Mauritius, Nagpur, Cochin, Delhi and Bangalore. Copies of the Form S-3 and India Globalization Capital's other filings with the SEC containing information about India Globalization Capital, our Indian operations and other relevant documents, are available at no charge at the SEC's Internet site (http://www.sec.gov). For more information about India Globalization Capital, visit the company's web site at www.indiaglobalcap.com.