Momentum stock for the week:
About:
RITES Ltd., a Government of India Enterprise was established in 1974, under the aegis of Indian Railways.
RITES is engaged in the business of Export Sales, Consultancy, Inspection Fee, Services for Turnkey Construction Projects
Parameters:
Stock P/E- 15.4(12 would be great)
Book Value- ₹ 112
Return on assets
11.2 %
Why need to buy ?
Company has reduced debt.
Company is almost debt free.
Stock is providing a good dividend yield of 5.77%.
Company has been maintaining a healthy dividend payout of 50.45%
Targets for short time as per Price action: 303, 317, 324, 335
Commentary about Price action:
Stock consolidating with formation of box from 2020 March so can see more up sides if the momentum shifted. Kindly track it in your watchlist.
If you are the conservative investor buy @ 225 to 235,
Attacking investor means buy now and expect 20 to 30% in 2 to 3 months.
Note:
Investment in markets is subject to market risk.
About:
RITES Ltd., a Government of India Enterprise was established in 1974, under the aegis of Indian Railways.
RITES is engaged in the business of Export Sales, Consultancy, Inspection Fee, Services for Turnkey Construction Projects
Parameters:
Stock P/E- 15.4(12 would be great)
Book Value- ₹ 112
Return on assets
11.2 %
Why need to buy ?
Company has reduced debt.
Company is almost debt free.
Stock is providing a good dividend yield of 5.77%.
Company has been maintaining a healthy dividend payout of 50.45%
Targets for short time as per Price action: 303, 317, 324, 335
Commentary about Price action:
Stock consolidating with formation of box from 2020 March so can see more up sides if the momentum shifted. Kindly track it in your watchlist.
If you are the conservative investor buy @ 225 to 235,
Attacking investor means buy now and expect 20 to 30% in 2 to 3 months.
Note:
Investment in markets is subject to market risk.