indian mining company to expand illawarra oper, page-3

"ULJK Securities has recommended a buy rating on Gujarat NRE Coke with a target price of Rs 37 in its March 20. 2009 research report."

“Gujarat NRE Coke Ltd (GNCL) is the largest independent producer of metallurgical coke in India, having a coke manufacturing capacity of 1 Mtpa, which is getting increased to 1.25 Mtpa by March 2009. It is also the only Indian company to have acquired captive coking coal mines outside India. GNCL has already started the mining in Australian mines and is expected to produce around 1 million MT of coking coal for FY09E and slowly scale up to over 7 million MT by 2013E.”

http://www.onlineequitycalls.com/2009/03/buy-gujarat-nre-coke-target-of-rs-37-uljk-securities/

GNCL is currently trading on the NSE India at Rs 19.6:

http://www.nseindia.com/marketinfo/equities/quotesearch.jsp?companyname=gujnrecoke&series=EQ&flag=0

JB