Hi Alchemist,

Why Spentex Industries have fallen so drastically. It was trading around 66 last week and suddenly it has come down to 34. Somebody gave me the news that it will touch 100 within a month. Where can i find news about it?

Thanks:

I think it is overvalued compared to its peers(Alok industries looks attractive to me). It has resistance at 40.5 going up and support at 35 going down if am not wrong.

Probably the stock might take a run along with midcaps and got rerated now. but still it's P/E is 35 considering its 12 months earnings for FY07-08.

Alchemist...Pls correct me if am wrong.....

Note: didnt hear any news as well.

"Happy Investing"
Vivek