updated 2/2/2011 8:46:04 AM ET 2011-02-02T13:46:04

ORLANDO, Fla., Feb. 2, 2011 (GLOBE NEWSWIRE) -- RedChip Research™, a division of RedChip Companies, Inc., today announced it has dropped research coverage on India Globalization Capital, Inc. (NYSE Amex:IGC).

RedChip's Hold rating and price target are no longer active. For further information on RedChip Companies' dropping coverage policy, please visit: http://www.redchip.com/research/researchmain.asp?page=dropped .

About RedChip Companies, Inc.

RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research™, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV™, Shareholder Intelligence, Social Media and Blogging Services, Webcasts, and RedChip Radio™. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp .

"Discovering Tomorrow's Blue Chips Today"™

The RedChip Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2761

Disclosure

None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. India Globalization Capital, Inc. ("IGC") is a client of RedChip Companies, Inc. and of RedChip Visibility, a division of RedChip Companies. IGC agreed to pay RedChip Visibility a fee of fifteen thousand shares of common stock under Rule 144 for twelve months of RedChip Visibility Program services, which includes the preparation of the equity research report(s). The equity research report(s) are prepared for informational purposes only and are paid for by the company portrayed in the report. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. These services may include investor conferences, digital and print distribution of IGC investor-related materials and radio programming. IGC agreed to pay RedChip Companies, Inc., a fee of four thousand five hundred dollars in cash per month for twelve months of these services. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein.

CONTACT: RedChip Companies Inc.
         1-800-REDCHIP (733-2447)
         research@redchip.com
         http://www.redchip.com

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