Friday, December 28, 2012

NITCO LTD - UPDATE

I have recommended a BUY on NITCO last year @ Rs,62/-and later suggested to book loss @Rs.40 mainly due to their increased debt in last two quarters.In a filing to stock exchanges( HERE) today the company informed that the CDR cell has approved its debt restructuring package.Hope the worst is over for the company .CMP is Rs.24/-

For old posting Click HERE

9 comments :

  1. Hello Sir,
    I made an entry into Manglam cement at 184. This is my first buy to your recommended stock. I found this blog recently. Can i consider to buy tata chemicals at around 340, your one of the old recommendations. Is the value still intact and can be good investment?
    Thanks and Regards,
    Nadim

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  2. what u want to say about the management integrity .i was going through the annual statement. they have said that they have reduced importing ceramic tiles. can one buy on fundamental basis?

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  3. I don't think it is top class .But feel there is not much risk at current price.Company having a debt of of Rs.580 Cr in its books .But It is reported that the total value of real estate which is under various stages of development ( see some details about one completed project in the below link) is approximately Rs.2300 Cr.If management really willing to do something ,i don't think it is impossible.

    http://www.nitcobizpark.com/

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  4. Sirji, Rapicut Cabides going down day by day. Is something wrong with the company? please share your views.

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    Replies
    1. From Rs.86 Rapicut touched a high of Rs.140/- post recommendation.If you are a short term investor , you had an opportunity to book more than 60% profit in one month.If you are a long term investor why you are so much bothered ? .In my previous posting on this company I clearly mentioned this company's business is expected to grow with some momentum in capital goods sector .I don't think one or two month is anything for such a change and it will be a gradual process.One should select stock and decide exit policy based on one's investment nature

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  5. sir thank u for every thing. wish u happy new year.

    ReplyDelete
  6. Nitco has touched Rs.15/- and below.Is this a sinking ship ?

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    Replies
    1. Depends on company's ability to implement CDR

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