Note : I have posted about Gravita in march and targets were done and the trade was closed.
GRAVITA (other metals: Engaged in manufacturing of plastics & nonferrous metals i.e. Aluminium and Lead over 24 years) now trading @77,
technically as you said, it looks in a better position, also expected to give good quarter& has been maintaining a healthy dividend payout of 25%.
But at 24 PE it looks over priced, the Stock is trading at 6.5 times its book value,
the company has delivered a poor growth of 11.2% over past five years.
& has a low return on equity of 11.5% for last 3 years. Lets hope for Good.
see you again, with more attacking comments. ha ha