Midas: plans to raise manufacturing capacity in China by additional 40% as the nation boosts high-speed rail and subway spending. Co aims to be able to produce 70k tons annually by 1H12, vs current annual capacity which is poised to expand to 50k tons vs 20k tons by yr end, given the vast amount the Chinese govt is spending on high-speed railway and the metro trains….
We note that since its debut on the HKSE yesterday, stock has not moved much, as valuations were largely in line with HK peers (19X FY11 PE vs 19.6X average). Technically support at $0.98, (200 day and trend line support).
No comments:
Post a Comment