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And now when I see there are almost 40-50 companies on my radar .
better concentrate on 10-12 stocks and look at them fundamentally and technically before jumping in.
Quote:
Originally Posted by magnet
But still the company is not doing buy back even at 30 levels.Whereas they said they ready to pay up-to 140.
Which means either the company doesn't have fund or there is something seriously wrong because of which the promoter themselves are not supporting the company.
Refer to the Notes section of the results on 13th Aug 2011. The company has till date bought back 5,30,731 shares.
But I agree, the company lacks the intent of a buyback as strongly done in case of Deccan Chronicle by the management.
Also in Infra Management space, which was the core competency, revenues have shrunk by 35% another major concern.
Quote:
Originally Posted by magnet
But as you said i guess you should buy 50 shares as the downside from here will be much less.Or another 10-15 rupees at max.Then it will become a trader penny stock for manipulation.Unless something really disheartening comes up.
I too hold 50 shares at 65.And planning to bring my cost below 40.With whatever shares i hold in future and sell by 60 and never touch again.
One good point is Promoter shareholding has increased from 43.42% to 43.62% because of the buyback and none of this is pledged.
So, I guess there won't be any sudden sell off due to margin calls, and stock will come down normally with bearish market.
One common investing mistake is to hold on to your losers and averaging them in the hope of recovery and selling your stars early in the fear of losing profits.
One should "water the green plants" and "chuck out the weeds". Averaging ADSL would be "watering the weeds". No point.
A few queries/comments as these are the shares I too hold/held in the past.
IFCI
Although it has crashed to 38 now, a huge upside looms large from the new banking license, given that risk seems pretty low from here and huge upside for a banking foray. Would you average @ 38 ?
REC
Currently at 172, it's new 52W low, the market has been too bearish with BFSI stocks. I think we should wait for further correction till the RBI policy date before adding more. What's your take ?
DCHL
I sold my existing 260 shares @ 66 today (avg buy price of 97). The buyback by Emkay is providing tremendous support and resisting a fall below 66. Today's volume of 12L shares was absorbed well. Almost 80-85% of buyback is complete now.
Because of dismal results, the prices will crash as situation look grim in AP for at least next two quarters. I guess we will get plenty of time to buy near 50-52 once the buyback ends. The stock should turnaround in 1 year time and see levels of 100+ in 3Q 2012.
Everonn
Bought at 535 and 492. Waiting for next purchase at 439 ( current 52W low). What are the further support levels ?
ADSL
I have 30 shares @185. The stock is down some 90% now. No point to sell now. I was earlier thinking of average near 25 levels. But given the dismal performance I guess no point is "watering the weeds" . What do you plan to do with this one ?
You are right, all financial stocks are under pressure now - be it banks or NBFCs.
It seems the market is now getting worried about loans in general and that is not a good sign.
I won't average IFCI now, but maybe later if it goes below 30.
I am actually a bit worried about the markets as a whole and don't want to put too much money in stocks.
Nifty has some support around 4800 and I may buy something if Nifty goes there.
REC/PFC have their unique SEBs-related problem. I think markets are over-pessimistic about these two. Governments won't allow SEBs to default. Power is a necessity and SEBs have to run uninterrupted. Ultimately, governments will have no choice but to recapitalize the SEBs. I will make a separate post on this issue in the REC thread.
I am very happy with how DCHL is using its buyback to absorb shares from the market. It shows that DCHL has real cash and not just paper profits.
ADSL is exactly opposite, The stock is crashing every day and there is no support coming from the company. The company is buying 2000 shares on some days. ADSL's buyback is nothing but a joke. It's a junk stock from me now - not worth buying/averaging at any price.
Markets have changed a lot after Satyam scam was exposed. Earlier stocks where fraud/manipulation/accounting jugglery was suspected, were beaten down, but these stocks recovered partially later. However, things are very different now. Low quality stocks are not finding any support now, not even from the speculators.
A slight hint of corporate governance issues is enough to destroy a stock.
That's why I booked a loss in GTL. Such stocks have no bottom. They will keep falling forever.
Thats the reason i said you to try one risk.You invested 5k at that time you didnt think what if tomorow company delists.Will i be able to take the pain.
Now just to invest 1500 you taking too much time.I said to average just because 5000 investment is not big.If you had invested 15000 or more than i would had said wait more as investment of furthur more than 5000 would have given some respite.And 5k is not small amount.
I know its a gamble.It might work it wont.But atleast say you buy now 50 shares at 27.And say sell at 50.Though you can still have some smile that my second investment in this prove better.Just psychologically.
I made a mistake that to average one blunder stock(zenith birla) i invested in another companies blunder stock(acropetal technology).ANd now i am sitting on 2 blunders.
Atleast from 100+ you still seeing 27 rates.and even if it furthur goes to 10.It wont make a big difference for you.
I seriously thinks when ones investment value turn half one should average only if he is confidence that company wont delist and management havent done something seriously wrong.In case of ADSL here only news of raid brought the company down.No news like satyam type fraud in books ever came out.And i think thats too much saturated level.One day or another some trader might take position and just on news it will run 20-40%.
FUndamentally this stock is out to take call.I am just saying to take gamble with 1500 buks and i guess its worth taking.
Thats the reason i said you to try one risk.You invested 5k at that time you didnt think what if tomorow company delists.Will i be able to take the pain.
Now just to invest 1500 you taking too much time.I said to average just because 5000 investment is not big.If you had invested 15000 or more than i would had said wait more as investment of furthur more than 5000 would have given some respite.And 5k is not small amount.
I know its a gamble.It might work it wont.But atleast say you buy now 50 shares at 27.And say sell at 50.Though you can still have some smile that my second investment in this prove better.Just psychologically.
I made a mistake that to average one blunder stock(zenith birla) i invested in another companies blunder stock(acropetal technology).ANd now i am sitting on 2 blunders.
Atleast from 100+ you still seeing 27 rates.and even if it furthur goes to 10.It wont make a big difference for you.
I seriously thinks when ones investment value turn half one should average only if he is confidence that company wont delist and management havent done something seriously wrong.In case of ADSL here only news of raid brought the company down.No news like satyam type fraud in books ever came out.And i think thats too much saturated level.One day or another some trader might take position and just on news it will run 20-40%.
FUndamentally this stock is out to take call.I am just saying to take gamble with 1500 buks and i guess its worth taking.
You are missing the whole point here. See today instead of investing 1500 bucks in ADSL at 27 you may very well go and buy 2 shares of ICICI Bank.
The former may tank to 0 Rs, I did this mistake once with Cranes Software. Prices tanked from 43 to 3. The chances of returns are much better in 2 shares of ICICI Bank.
We always average with the hope of recovery, but when all financial and qualitative parameters point towards a negative outlook, no point being emotional with investing.
You are missing the whole point here. See today instead of investing 1500 bucks in ADSL at 27 you may very well go and buy 2 shares of ICICI Bank.
The former may tank to 0 Rs, I did this mistake once with Cranes Software. Prices tanked from 43 to 3. The chances of returns are much better in 2 shares of ICICI Bank.
We always average with the hope of recovery, but when all financial and qualitative parameters point towards a negative outlook, no point being emotional with investing.
Yes prudent one can try that .I did similar thing but only mistake i did was i selected a bad stock acropetal and i am similarly in same position in both stocks.
Yes prudent one can try that .I did similar thing but only mistake i did was i selected a bad stock acropetal and i am similarly in same position in both stocks.
As man4urheart mentions, the safest bet at times of distress is the Index. Cause irrespective of any stock the index will be the earliest to recover, you sacrifice some gain but it reduce risk significantly.
The next best bet is battered down large caps with decent business and strong operations.
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