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AMCOL International Corporation Message Board

  • old_guy_gte old_guy_gte Jul 28, 2006 11:30 AM Flag

    ASHAPURA profits up 226%

    Amcol owns 22% of the equity in Ashapura, an Indian company that just announced that their first quarter profits were up 226%. Their bentonite, bauxite and bleaching clay businesses all participated. Among their comments was a statement that their geosynthetic clay liner business was up also. I assume this part of their business is conducted in their Ashapura Volclay subsidiary, which is a 50/50 joint venture with Amcol.
    Today's price action (currently $23.43) closes the strong gap down of one week ago. A week long time frame is not the sort of snap back that would make it a Bear Trap but it is also not a strong Breakaway Gap to the downside. The price is now rising sharply accross its 90 day moving average into a sharply droping volume weighted moving average (now at $23.96.)
    We will see how those two collide.