ELECTROSTEEL STEELS LTD:NAGATIVE

Dear Kaushik Sir,
I am regular reader of your sharegenius blog.
Thanks your valuable views.
I am eagerly waiting for view on "ElectroSteel St".
Regards,
Surya Kumar Samudrala

1. Respected surya kumar ji sorry for very late reply of your question but it is my limit that i receive many question per day and choose only few question for reply.
2. Electrosteel steels ltd book value is 10.20 and face value is 10 it is a iron company but in BSE it is showing under construction and engineering company so matter is doubtful and i think this is a risky counter.
3. Promoter holding is 34.40 % and FII reduce there holding from 7.90 % to 0.73 % so i think FII exit from this counter near it 52 week high 12.35 at 8 oct 2010.
4. Please do not confuse with electrosteel castings ltd this is a separate counter.
5. So in light of above points my view is negative for electrosteel steels ltd.
6. I have no any share of electrosteel steels ltd.