A Penny Stocks to invest for as of now.

According to my knowledge L&T from CMP 2400Rs. Cannot become 4800Rs. in just 2 months. But Penny stocks have done so as many of the stocks have rallied from 2 Rs to 30 Rs in a period of one year.
At present I think a penny stocks are a must buy.
Scrip:- Facor Alloys.
BSC code : - 532656.
CMP:- Rs. 9.35
Tgt:- Rs. 17
Time Frame:- 6-8 Months.
FACOR was founded in 1956 which put the new industrial town of Shreeramnagar on the world map of Ferro Alloys.

Shreeramnagar, situated about 100 kms North of Vishakapatnam fort, on the east coast of India, became the first major producer of bulk Ferro Alloys in the country. It began with a production capacity of 45,000 tonnes per annum that met the requirement of the growing iron and steel industry in India.


Then in 1968, two more furnaces were added for Low Carbon & High Carbon Ferro Chrome products and in 1981 a 16 MVA furnace was put up for production of Ferro Silicon or additional quantities of High Carbon Ferro Chrome.

In the meanwhile, FACOR was keenly developing indigeneous technology, through its research and development department, to utilise low grade chrome ores, from its own mining leases to produce Charge Chrome. Based on its in-house technology adopted and proved to an experts committee of Government of India, in the 7.5 MVA plant at Shreeramnagar, it set up a 100% Export Oriented 50,000 tonnes per annum Charge Chrome Plant in 1983 at DP Nagar, Randia, in Bhadrak District in Orissa. Having established this base FACOR decided to add value to its own output by getting into forward integration. A sophisticated steel plant was set up at Nagpur to produce Carbon Steel, Manganese Steel, Alloy Steel and Stainless Steel.

In order to meet part of their power requirements FACOR has established two power plants of capacity 3x10 MW and 2x10 MW at Shreeramnagar and Randia respectively in 1989-90. These diesel power plants are supplied by MAN B&W Germany and are operating with heavy fuel oil (Furnace Oil or LSHS).

This of course, is not the only high point of achievement of the R&D Department. The department has for long enjoyed the recognition of the Department of Science and Technology, Council of Scientific and Industrial Research, Ministry of Steel for having developed and established processes for:

Beneficiation of low grade chrome ore
* Agglomeration of ore fines and concentrates by way of briquetting and sintering
* Production of intermediate Carbon Ferro Chrome
* Production of Magnesium Ferro Silicon
* Metal Recovery Plant of 20 T/Hr capacity established in 1994 to recover metal entrapped in slag
Facor alloy is a small company from the saraf families. Other group
companies include facor steel and ferro alloy (minning). This is a
high growth potential company with incestor friendly and transparent
mgmt. Mr Saraf is MBA from Havard. The group has big expanision plans
from the profit earned in the ferro metal business. This includes
power, infrastructure and platinum mining. Currently traded at penny
values it may become a future multibagger. It is also a debt free
company.

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Happy Investing.