Some may sneer at scrap metal, but let no snobbery stand in the way of cascading dollars from this corner of the Iron & Steel Industry. It is convenient to blame the BRIC block of countries for demanding so much of various metals that scrap enterprises have become profitable. However, the truth is that it has always been so. Fierce competition and conservation concerns make a heady mix in terms of recycling finite resources.

59% of the 36.04 million shares of this small-capital member of the Basic Materials Sector are held by reputed financial institutions. The early-September 2008 stock price has hovered close to $11 against a 52-week low of just $7.45. The Price to Earnings Ratio is just 15.13, which is excellent for such a stable and mature business. Earnings per Share are at 0.70 and the Beta is 1.26. No thinking investor can afford to turn up a nose