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Volvo Terry Industries Ltd Stock Analysis

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Textile
Volvo Terry Inds. Ltd. was incorporated on 19th December 1990 and started their manufacturing activities some-time in the year 1991. It came up with a public issue of 40 lacs equity shares of Rs 10/- each in the year 1992.The company was involved in the manufacture of mild steel ingots which...

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Volvo Terry Inds. Ltd. was incorporated on 19th December 1990 and started their manufacturing activities some-time in the year 1991. It came up with a public issue of 40 lacs equity shares of Rs 10/- each in the year 1992.

The company was involved in the manufacture of mild steel ingots which is an intermediary product and used production to torsteel which is used for construction purpose.

In the year 1994 a decision was taken by the Board of the

Volvo Terry Inds. Ltd. was incorporated on 19th December 1990 and started their manufacturing activities some-time in the year 1991. It came up with a public issue of 40 lacs equity shares of Rs 10/- each in the year 1992.

The company was involved in the manufacture of mild steel ingots which is an intermediary product and used production to torsteel which is used for construction purpose.

In the year 1994 a decision was taken by the Board of the Directors of the company to have a public issue inter alia to finance its expansion projects, the total cost whereof was estimated at Rs. 31 crores and accordingly it came out with a public issue of Rs. 10.43 crores which opened on 7-3-1995 and was closed on 10-3-1995. The said public issue was over-subcribed by more than 5 times.

The company faced legal wrangles for describing them as part of Volvo Group. Which the Aktiebolaget Volvo Of Sweden stated that it is not the part of the Volvo Group and it is totally false and incorrect and that the whole intention of the company by adopting the word 'Volvo' as part of their corporate name and trading style was to trade on the reputation of the Volvo and Volvo Group of Companies since the company has acquired tremendous reputation all over the world including India.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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