Friday, October 17, 2008

Industrial Recession

Some days back when the IIP numbers for August 2008 came in at 1.1%, one of the economist in GOI (Government of India) said that it is an industrial recession. It seems that stock prices of Industrial Companies are reflecting that. See the table below:

StockPriceEarnings Last YearP/E
Amara Raja51173
Ashapura Minechem44202.2
Asian Electronics29291
Graphite India3694
JK Lakshmi Cement28370.7
KEI Industries2073
Lakshmi Machine Works6402003.2
Tata Steel250902.5

The list covers most of the industrial sectors from batteries to mining to steel to transformers to power cables to housing to cement to textiles. I am not saying this companies are worth buying at this point of time, some of them will go bankrupt in the next 2 years. I don't know which ones.
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