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Wednesday, October 31, 2007

SALONA COTSPIN REVISITED

Action seems to be returning in Salona Cotspin (bse code : 590056). The textile industry as a whole has underperformed the market for the past one year or so due to the appreciation of the rupee against the dollar. Govt. seems to be genuinely concerned about the hardships being faced by the exporters and is taking steps to help them. Salona Cotspin has a good track record of consistently growing Net Profit figures and regular dividend payouts. Watch out for this counter, volumes are picking up. Cheers!

7 comments:

DEEPIL2003 said...

hi
i could not catch this bus tell me next bus i wont let the bus go
bye
deepil2003

prashant said...

Dear Superstar,
What is reason of Salona cotspin hitting lower circuit of 21.90 after going to all time high within a weeks time. Is is operator driven? Your comments.

NB:I purchased this stock in Feb'07 at 28/-.

Superstar said...

Dear Prashant,

Thanks for visiting this site. You purchased Salona at a very high price. Recently you had a chance to book profits at 38. I had recently given a buy call on this stock at the price of 18, after which it rallied non-stop to 38. After the quarterly results were declared, which were not good, I had clearly advised people to book profits in this stock in my message posted on moneycontrol.

amrit said...

hi superstar...i hav also bought salona at 34 levels...now what should i do..shall i book loss or hold..please advice..thanks n regards

Superstar said...

Hi Amrit,

I feel bad for you that you bought this stock so late and at such a high price. I had given the reco around 18 levels, and 34 should have been a good level to exit. You should follow my comments closely on moneycontrol. I had clearly told people to book profits after the dismal quarterly results. However, the textile sector can get some sops from the govt. to counter the appreciating rupee against the dollar. So all is not lost in this counter yet. The Operator may take the price up again if he wants.....one can't really predict the operator moves, which are often contrary to fundamentals. You may get a chance to exit at higher levels.

Tilak Raj Sharma said...

Dear Navin Sir,

I shall be obliged if you could kindly comment on the future prospects of JK Cement.

Thanks and regards,

Tilak R Sharma

Superstar said...

Dear Tilak Raj,

JK Cement is a good stock which can be added in one's portfolio for medium term on every dip. The company has been posting good earnings and should give good gains in the medium term.

Cheers!