Stock is a Techno Funda pick with a medium term holding period. The company operates in drilling rigs which are used extensively in mines such as coal, copper, gold, iron, zinc, phosphate, bauxite, lignite, limestone, etc.
India is seeing an increase in mining activity after a deadlock of about 5 years.
A theses in play here is that, a company which servives a bad time is likely to do much better in good times. Stock has already catched up to multiyear highs and is looking strong.
Few key points in favour of this pick are High promoter holding, low MCAP, low Equity and a managable debt.
India is seeing an increase in mining activity after a deadlock of about 5 years.
A theses in play here is that, a company which servives a bad time is likely to do much better in good times. Stock has already catched up to multiyear highs and is looking strong.
Few key points in favour of this pick are High promoter holding, low MCAP, low Equity and a managable debt.
Comment:
Stock up 20% in today's trade at 1051.5, worked well.