Fortnight Stalwarts !

Dear Friends,
Its long time since I have updated the blog. No excuses ! just paucity of time. I love to blog and given an opportunity would like to post atleast once a day, but I know it would take some more time before this becomes a reality. I was using the weekend to ponder over few stocks that have turned out to be stalwarts in the last fortnight (last 15 days). Lets try to find what exactly happened in these counters.

Patni Computers
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Even after dismal Quarterly results the stock hogged the limelight and rosed by around 31% in last 15 days. The company announced net loss of $ 3.21 million for Q2 June 2006 compared with a net income of $ 14.44 million in Q2 June 2005. However, the comapny's guidance for Q3 was at a net Income of $18 Million with 5% increase in revenue. The stock which got good beating during June'06 saw this as a silverlining and this lead to spurt in the prices. However, Investment Guru is of the opinion that the current price has buyilt in the good news and further sharp movement in stock prices in unlikely. Another indicator of expected dullness is the fact that there has been a sharp reduction in open position on the counter. This indicates that investors has resorted to profit booking during the recent rally on the futures & options front.

Jagran Prakash
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The stoock leaped forth 47% from the levels of Rs. 211 on 21st January to Rs. 309 in just 15 trading sessions. The company announced 433.8% growth in net profit for Q1 June 2006 . Sales rose 19.8% to Rs 136.68 crore . The robust results helped the stock to recovers from low levels. Earlier the stock was dumped to Rs. 174 during the June massacre. RBI has allowed FII buying into the stock in view of lower holdings than stipulated. FII's can hold upto 26% while the current holding is about 21%. The stock is up with incerase in volumes which suggests that there is some more steam left in the stock price.

Other stocks which have flared up sharply during the fortnight were Nagarjuna Constrictions, Goodyear, Rain Calcining, Bank Of India, Punjab National bank and RK Forgings to name a few.

1 comments:

Manik said...

Dear Sir,
what are the propects of Hindalco and State Bank of India ? I hold 100 shares of hindalco and 50 shares of State Bank. Please advice.
Regards,
Manik