Well, it has been awhile since I posted on this blog. I have been investing, but I have not been sharing my opinion on stocks for a fair bit of time already.
I have been embarking on creating an online residual and passive incomes which has seen some positive result.
Anyway, I have made a search online but was not able to find any discussion going on about this mutli-bagger stock, PSL Holdings Ltd or PSL:SP. It has on 28 Jun 11 reached a new height of $0.40 before speculators selling on profit-take and bring it back to $0.375 with an increased of $0.035 from the previous trading day (27 Jun 11).
Based on the Dow Jones performance on 28 Jun 11, it is very likely that STI will open gaping up with a gain of more than 20 points. Shipping sectors will see further surged together with Banks. PSL will resume uptrend and the likely opening price of this stock on 29 Jun 11 will be around $0.415.
The above are of personal opinion and they are not an inducement to trade.
After searching for a good period of time, I finally found the reason of the surge by this stock. Even ChannelNews Asia Forum, the most active and participated Stock Discussion Forum of Singapore was not talking about this multi-bagger. It was because this company has secured a back to back order and has been progressing really well with its piping business. The news release by PSL Holdings as follows:
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PSL Limited, a global leader in manufacturing and coating of pipes, today announced that after successful completion of the 130 km., 30-inch & 18-inch diameter, Dabhol-Bangalore Pipeline Project, it has been awarded with an order for supply of line pipe and three-layer polyethylene (3LPE) coating for GAIL’s KKBMPL project. PSL shall be supplying 24-inch diameter pipe conforming to API 5L X-70 and X-80 Grades out of its Chennai and Visakhapatnam pipe mills.
The total order value stands at approximately Rs. 753 crore, and the total length of pipe to be supplied is an estimated 735 km. Both PSL’s Chennai and Vizag pipe mills are in close proximity to the pipeline’s right-of-way (ROW), which enabled the company to offer competitive prices. PSL has developed numerous state-of-the-art API-certified pipe mills and onshore coating plants across the country, and it is found that this regionally-distributed capacity-readiness has provided the best economical and logistical solution to clients, ensuring faster delivery of high-quality products during the order-fulfilment process.
Commenting on these developments, PSL Limited MD, Ashok Punj, stated “The recent orders we have secured from GAIL have special significance for PSL as a company, since they stand as a testament to our capability as a key enabler of India’s gas pipeline and infrastructure projects. PSL has steadily built its strong supply-chain capabilities over time, and therefore looks forward to ever-enhancing participation in the development of the nation’s energy grid and oil & gas network”.
The pipe supply contract’s technical delivery conditions include usage of high-end pipe manufacturing technology, viz. X-70 and X-80 Grades (signifying a minimum yield-strength of 70,000 psi and 80,000 psi). PSL has been partnering with GAIL since inception, and was the sole pipe-coater for the 1,760 km. Hazira-Bijaipur-Jagdishpur (HBJ) pipeline, the first major gas pipeline project in India.
With proactive initiatives of GAIL in successive creation of India’s pipeline infrastructure, PSL is confident of meeting the pipe supply requirements of GAIL and other customers conforming to the most stringent specifications. Following the receipt of these new orders, the order book for the company now stands at Rs. 2200 crore, with several tenders bid, under evaluation, and awaiting award.
Where to Get Investment Information on Singapore Stock Market?I have been embarking on creating an online residual and passive incomes which has seen some positive result.
Anyway, I have made a search online but was not able to find any discussion going on about this mutli-bagger stock, PSL Holdings Ltd or PSL:SP. It has on 28 Jun 11 reached a new height of $0.40 before speculators selling on profit-take and bring it back to $0.375 with an increased of $0.035 from the previous trading day (27 Jun 11).
Based on the Dow Jones performance on 28 Jun 11, it is very likely that STI will open gaping up with a gain of more than 20 points. Shipping sectors will see further surged together with Banks. PSL will resume uptrend and the likely opening price of this stock on 29 Jun 11 will be around $0.415.
The above are of personal opinion and they are not an inducement to trade.
After searching for a good period of time, I finally found the reason of the surge by this stock. Even ChannelNews Asia Forum, the most active and participated Stock Discussion Forum of Singapore was not talking about this multi-bagger. It was because this company has secured a back to back order and has been progressing really well with its piping business. The news release by PSL Holdings as follows:
___________________________________________________________________
PSL Limited, a global leader in manufacturing and coating of pipes, today announced that after successful completion of the 130 km., 30-inch & 18-inch diameter, Dabhol-Bangalore Pipeline Project, it has been awarded with an order for supply of line pipe and three-layer polyethylene (3LPE) coating for GAIL’s KKBMPL project. PSL shall be supplying 24-inch diameter pipe conforming to API 5L X-70 and X-80 Grades out of its Chennai and Visakhapatnam pipe mills.
The total order value stands at approximately Rs. 753 crore, and the total length of pipe to be supplied is an estimated 735 km. Both PSL’s Chennai and Vizag pipe mills are in close proximity to the pipeline’s right-of-way (ROW), which enabled the company to offer competitive prices. PSL has developed numerous state-of-the-art API-certified pipe mills and onshore coating plants across the country, and it is found that this regionally-distributed capacity-readiness has provided the best economical and logistical solution to clients, ensuring faster delivery of high-quality products during the order-fulfilment process.
Commenting on these developments, PSL Limited MD, Ashok Punj, stated “The recent orders we have secured from GAIL have special significance for PSL as a company, since they stand as a testament to our capability as a key enabler of India’s gas pipeline and infrastructure projects. PSL has steadily built its strong supply-chain capabilities over time, and therefore looks forward to ever-enhancing participation in the development of the nation’s energy grid and oil & gas network”.
The pipe supply contract’s technical delivery conditions include usage of high-end pipe manufacturing technology, viz. X-70 and X-80 Grades (signifying a minimum yield-strength of 70,000 psi and 80,000 psi). PSL has been partnering with GAIL since inception, and was the sole pipe-coater for the 1,760 km. Hazira-Bijaipur-Jagdishpur (HBJ) pipeline, the first major gas pipeline project in India.
With proactive initiatives of GAIL in successive creation of India’s pipeline infrastructure, PSL is confident of meeting the pipe supply requirements of GAIL and other customers conforming to the most stringent specifications. Following the receipt of these new orders, the order book for the company now stands at Rs. 2200 crore, with several tenders bid, under evaluation, and awaiting award.
