ORIENT ABRASIVES

The 6 month target of 41 was met in just 2 months and the script touched 42.65 on Nov 11^th. Orient Abrasives is still a good buy around 38.0-38.5, even 39. Next target is 48 (+23%) in 3-4 months.

Sep 6th powerfulpicks advice: Some of you have asked me about Orient Abrasives. It is a good company and balance sheet and company fundamentals look strong. Future growth prospects is bright because of prospects of high growth in the steel industry, who are the end users of its products.

OAL customers include large domestic integrated steel producers and mini steel plants that include Steel Authority of India, Mukund Steel, Tata Iron and Steel Company, RINL – Vizag, Sunflag Iron, Lloyd Steel, Essar Steel and the Jindal Group. With close to 100 small to medium sized iron and steel producing Indian companies as customers, OAL is a preferred vendor for a large number of steel producers in the country. The Company also supplies Castables to a large number of cement and non-ferrous companies in India. OAL has significant presence in the global market place with exports to over 16 countries across the globe including Spain, Turkey, Egypt, Indonesia, Saudi Arabia, Thailand and Greece. Buy on dips at 32 for a target of 41 in 6 months (+28%)