Topic: Technical Calls

OCIL is seeking global partnership to set up a greenfield tile manufacturing plant in Andhra Pradesh where it owns land next to the Reliance Gas field and port in Kakinada. It is also looking for additional manufacturing capacities in western India. The company's diversification plan includes trading of other building products like sanitary wares, bathroom fittings and designer tiles. OCIL is an existing, profit-making, dividend paying company with a good track record. Further, the prospects of the Indian Tile Industry are bright in view of the fact that the overall economy and the real estate sector in India are buoyant and are expected to continue to be so. The consumption of ceramic tiles in India is still one of the lowest in the world. This shows the scope of growth in the years to come. At its current market price the OCIL share price is discounted less than 8 times its 2009-10 earnings of Rs.10.89. In view of its bright prospects going ahead and regular dividend payouts investor can BUY FOR TARGET 110/120+ in short term.

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it may not be a very attractive one for short termers....considering its dwindling sales.

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