Rio Tinto is making some moves as they announced that they will buy a in Riversdale Mining from Indian based Tata Steel. I talked a little about Rio Tinto in a couple weeks ago and think that they are going to rise a bit back towards their 52 wk high of $76 over the next few months.
On he flip side of this deal, I see Tata Steel (traded in Mumbai) to lose some ground. While they may have a bit of a windfall for the buyout, they lose a stake in a solid mining operation in Australia. As for Riversdale mining, Its expected to get delisted.
On a slightly different topic, buy Asia Carbon Industries. Remaining extremely undervalued, this will not stay this way for long. As we quickly approach the end of Q2, ACRB is going to explode when people again see dazzling numbers that HAVE BEEN audited. I have been consistently buying shares as this company is primed to jump!
More soon!
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