AMRUTAJAN HEALTH LTDShort
AMRUTANJAN : Booked a profit of 2.96% on the invested capital
This is a stock I have been holding onto for a very long time. I bought it in different levels and summed up the total allocation to about 2.5% of the net capital. Then I stopped adding onto the position since that is the maximum allocation as per my trade plan, for a particular stock. But the average price level was not in a favorable position technically. Hence I decided to book profits as soon as the price went above my levels, since there are much better opportunities out there from a micro and macro economic perspective.
The shareholding pattern shows less foreign institutional interest in the stock as of now. After promoter, retailers are the largest shareholders. This is not a good sign since retailers are the weak hands in the market. The valuation is also high as per the data available on tickertape.
Considering all these factors, I do believe that it is not safe to hold on to the stock any further, at the current valuation. So decided to book profits and move on.
Will consider a re-entry if price falls to the bottom of the channel but only after evaluating the fundamentals and financials at that point.
The shareholding pattern shows less foreign institutional interest in the stock as of now. After promoter, retailers are the largest shareholders. This is not a good sign since retailers are the weak hands in the market. The valuation is also high as per the data available on tickertape.
Considering all these factors, I do believe that it is not safe to hold on to the stock any further, at the current valuation. So decided to book profits and move on.
Will consider a re-entry if price falls to the bottom of the channel but only after evaluating the fundamentals and financials at that point.
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