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Monday, November 29, 2010

Cals refineries gets big investor - project to progress soon

The latest development in counter of Cals Refineries: It has got a big investor, Kuwait’s Kharafi Group as investor through company GDR issue. Kharafi Group operates in more than 30 countries and has more than 100,000 employees.

Al Qebla Al Watya, the Kharafi investment vehicle, will invest in with $150 million (Rs. 675 Crores) through global depository receipts (GDR) for Cals Refineries for building the refinery at Haldia.

This refinery project has been delayed by almost 3 years now and company management is facing problems in financial closure of the project. With this positive development, it is expected that management would be able to achieve financial closure soon and progress on the project.

Cals refineries stock was locked in upper circuit of 18.5% today with orders pending to buy shares at huge quantity (6.5 crores).

I have discussed Cals Refineries few times in last two years and have recommended it as penny stock bet. I have investment in it.

Read More on Cals Refineries:
CALS Refineries - Small Cap Stock & Penny Stock Analysis

Cals Refineries - Small Cap Penny Stock - What to do?

You may read detailed news in "The Telegraph" here.


  1. this is great site for any new in sharmarket i also buy cals 1 lacs share and hold for min. 2 years. Given by your instruction target price is 30Rs. Great chace to make money

  2. hi vinay.. the stock's rallying quite a bit but i m not able to buy coz of no sellers.. is this just a news based rally?? can it come down to 0.3 levels again or should i rush and buy it asap..

  3. Hi Optimist .. looking at current developments like USD 1000 Million GDR and investment by Kharafi group, it looks difficult to me that Cals would touch 0.30 levels again. Since management is moving towards financial closure and which looks certain, might settle around Rs. 1 which is it's book value, just a wild guess.

  4. P.S. I am not going to sell untill it starts it's production which would 2 - 3 years away from now.

  5. Why is Cals Refineries trading at so low levels although it has positive news as mentioned above?

  6. When is the FC and Will Project will be started?

  7. very bad share the company is cheating the local people they are the great cheaters.If u want to become begger the buy cals

  8. Cals Refineries Rs 1,425-Cr FDI Proposal Referred to Cabinet Panel


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