ATLANTA, March 21, 2012 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (NYSE Amex:IGC) has been a source of major stock market profits for our subscribers. Last fall, when the stock was trading around $0.20, we alerted our newsletter subscribers to the potential. We said "in our opinion, we believe IGC's strategy of 'buying when everyone else is selling' is going to pay off in big returns for shareholders." Obviously, it looks like we were right. But it is not the first time we have correctly called moves on IGC. We originally profiled IGC on April 15, 2010 at $1.04 before the stock moved to $2.69 on April 27, 2010. We also correctly called a price move on IGC in January when we pounded the table at $0.56, before the stock hit $1.07 less than a month later.
Now, we are going back to the well with IGC and boldly predicting that, in our opinion, the $1.00 mark will be cracked in the very near future. We base our bullish opinion of IGC shares on 1) the swing toward profitability in fiscal 2013 (which begins April 1, 2012), 2) the increased iron ore reserves from the additional property, the 50% increase in production capacity, 3) the high probability of IGC acquiring additional properties and 4) the Company currently trades at an Enterprise Value to Reserves (EV/Reserves) ratio of 0.044, while other comparable companies in the small cap sector trade at ratios between 0.1 and 0.3 leaving significant room for valuation expansion based solely on reserves.
The complete report is available at http://www.otcstockreview.com/IGC_Review_32112.pdf.
Additionally, more information on IGC is available at http://www.indiaglobalcap.com.
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