This group manages the following:
- Chambal Fertilizers & Chemicals (Ammonia, urea etc.)
- Zuari Industries (Fertilizers, seeds, investments, etc.)
- Sutlej Industries (Textiles - yarn, fabric and garments)
- Texmaco (Engineering – machiney and equipments)
- Hindustan Times (Media – newspapers)
- Upper Ganges Sugar & Industries (Sugar, molasses, industrial alcohol, tea etc.)
- Oudh Sugar Mills (Sugar, molasses, industrial alcohol etc.)
- Gobind Sugar Mills (Sugar, molasses, bagasse)
Summary:
| Scrip/NSE Ticker | BSE Group | Scrip Code | Price 16-Nov |
| Chambal Fertilizers & Chemicals (CHAMBALFERT) | A | 500085 | 72.55 |
| Zuari Industries (ZUARIAGRO) | B1 | 500780 | 315.20 |
| SIL Investments (SILINV) | B1 | 521194 | 113.40 |
| Scrip/NSE Ticker | BSE Group | Scrip Code | Price 16-Nov |
| Sutlej Textiles (SUTLEJTEX) | B1 | 532782 | 130.00 |
| Texmaco (TEXMACOLTD) | B1 | 505400 | 1640.00 |
| Upper Ganges Sugar & Industries (UPPERGANGES) | B1 | 530505 | 88.50 |
Gobind Sugar Mills is not listed at BSE and NSE; Oudh Sugar falls under B2 group of BSE.
The following table shows the key financial ratios:
| Scrip | P/E | P/BV | Gain since 01-Jan |
| CHAMBALFERT | 18.19 | 2.95 | 97.41 |
| ZUARIAGRO | 18.27 | 1.19 | 72.95 |
| SILINV | 10.49 | 1.11 | 31.86 |
| SUTLEJTEX | 4.58 | 0.42 | (43.94) |
| TEXMACOLTD | 46.92 | 11.41 | 30.39 |
| UPERGANGES | - | 0.61 | (21.85) |
Chambal Fertilizers & Chemicals:
We had discussed about this stock in my previous article, “Buy These 5 Stocks and Forget about them”. We indicated that the next targets for the stock were 71 and 91. It has now closed at 72.55.
Zuari Industries:
Read more about this stock in my previous article, “Top Five All-Around Value Stocks”. It was mentioned that the stock is likely to test its previous high at 364. This week, it has closed at 315.20.
SIL Investments:
Sutlej Industries was renamed as SIL Investments when it demerged the textile business in 2005 and formed a new company, Sutlej Textiles and Industries.
This stock performed very badly since May 2006 as it fell from 207.45 to a low of 55 during March this year. The weekly chart shown above suggests that the stock had broken its resistance at 86.30 during September 2007. It has gained reasonably so far. The stock is expected to test the resistance at 134 and if it breaks this level, one can expect a target of 149.40 which is 61.8% retracement. So this stock is bullish for the medium term.
Sutlej Textiles & Industries:
The stock got listed on December 14, 2006 and it has been on a steady downtrend. This week, it broke its previous low at 112 and more bearishness is on the cards. The company has declared a cumulative net profit of Rs.23.34 crores for the last 4 quarters but the crowd is simply not interested in the stock.
Texmaco:
This stock made a bullish breakout two weeks ago, when it broke the previous resistance at 1448. This was accompanied by very good volumes. The technical target for this upmove works out to 2121 and 2391. It trades at a higher P/E and P/BV ratio, meaning it is a ‘growth’ stock.
Upper Ganges Sugar & Industries:
The upper chart says it all. The stock had fallen from its high at 482 in April 2006 to a low of 55.90 in August 2007 (88% erosion in value). However, it is currently making higher highs and higher lows (see lower chart). This week, it broke the previous high at 89.80 but didn’t close above it. If it closes above the resistance with good volumes we can expect a bullish breakout. It has reported a net loss of Rs.29.09 crores for the 12 months ended June 2007.
Conclusion:
Technically, only Sutlej Textiles & Industries looks bearish. Upper Ganges Sugar & Industries has declared poor results. The rest are bullish.