The Hindu Business Line : Indian Toners up on growth hopes

Indian Toners & Developers moved up by 14.53 per cent to Rs 34 on the BSE with a jump in traded volumes at 3.07 lakh shares (2-week average 50,419 shares on the exchange).

According to market sources, a marked change in profit and revenue growth potential after its capacity expansion and a plan for further capacity increase have attracted a set of investors to the counter.

According to analysts, this 3-PE stock (based on `06-'07 earning expectations) has acquired critical mass in terms of production to grow rapidly.

"If a profit growth of 200 per cent in the quarter ended on December 31, 2005 is an indication, then another 300 tpa capacity hike (from current 1200 tpa), to be commissioned in 06-07, could conservatively fetch additional revenue and profit. Exports and domestic markets are providing excellent demand and margin for the company", said a fund manager.

Jayanta Mallick

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