ATLANTA, Nov. 16, 2011 (GLOBE NEWSWIRE) -- OTCSR announces that it has issued a report on India Globalization Capital, Inc. (NYSE AMEX:IGC), a provider of materials and expertise to the fast growing infrastructure industry in China and India. With its proposed acquisition of H&F Ironman Limited ("HK Ironman"), which owns 95% of Linxi H&F Economic and Trade Co., Ltd. ("PRC Ironman"), located in Chifeng, China, IGC is adding US$13,525,890 in revenues and approximately US$5.9 million in net after tax earnings to its annual numbers, as well as a liquid balance sheet.
The stock, which was trading near the year low of $0.20, has moved sharply higher since the announcement. In our opinion, the reason is that most iron-ore miners are trading between two and three times revenues. Even with the shares issued for the acquisition of HK Ironman, at two and half times revenues, IGC should trade closer to $1.00. Iron ore demand is still extremely strong in China long-term, but a short term weakness has created buying opportunities on some of the world's largest producers. Once again, 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. 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 earlier this year when we pounded the table at $0.56 on January 7, 2011 before the stock hit $1.07 on January 17, 2011, which is the current 52 week high. In our opinion, this year high could be pierced simply on the basis of IGC's market cap versus revenues.
The complete report is available at http://www.otcstockreview.com/IGC_Review_3.pdf.
Additionally, more information on IGC is available at http://www.indiaglobalcap.com.
NOTE: The purpose of this release is to introduce the reader to OTCStockReview.com and India Globalization Capital. OTC Stock Review is not a Registered Investment Advisor or a Broker/Dealer. Information and opinions presented in this release are solely for informative purposes and not intended, nor should they be construed as, investment advice. This document contains information obtained from public sources about India Globalization Capital, but does not contain all the relevant material information necessary to evaluate the company. This release is not to be considered an offer to buy, sell, hold, and/or otherwise trade in the securities of India Globalization Capital, as profiled. OTC Stock Review has been compensated ten thousand dollars and twenty five thousand shares of stock to perform investor relations services for India Globalization Capital, but not necessarily to produce this report. Officers, directors, and employees of OTC Stock Review, may hold a long or short equity position of a profiled company and may trade in these securities for their own accounts. Carefully review profiled companies with your investment advisor, stockbroker, or other such professional. OTC Stock Review is not liable for any investment decisions by its readers or their advisors. Readers are encouraged to obtain copies of the profiled Company's periodic reports filed with United States Securities and Exchange Commission, which are generally available at http://www.sec.gov. You can view our complete disclaimer at http://www.otcstockreview.com/disclaimer.htm