Saturday, April 2, 2011

SEL MANUFACTURING COMPANY LTD (SELMCL)

Hi Mahesh,
I got stuck with SEL Manufacturing around @ Rs.61/- (after averaging), iam holding 4500 Nos...... I am not understanding what to do.... shall i wait or sell it?.... from past one year i am holding, i need your valuable advice,

Regards,
Malek.
.
1. SEL manufacturing company is a Apparels & Accessories textile company
2. Face value of SEL manufacturing company is rs 10.
3
. Promoter continue reduce there holding from 55.72 percent to 38.67 then 19.45 and now it is 15.83 % only so promoter continue dilute there stake and this is a very nagative fundamental for me so i can not advice to buy this stock at this time
4. EPS of SELMCL is 32.08 in FY 09-10 but this year last 2 quarter EPS is 6.88 so clear downtrend in EPS will making a fear to convert is loss making company.
5. book value of SEL manufacturing is 57.07
6. so i think downside is limited but you may avoid this stock where other good choice is availble in market and in your case i think if you sell this stock at CMP of 18 only then you have big loss you already see great loss of 43 rupee per share so i think in currant textile rally you may wait some time and try to book your loss step by step in every rally

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