Tuesday, March 2, 2010

AVOID:Ashco Niulab Industries Limited

Respected mahesh ji,
Would like your advice on investing in the following share for both long and short terms.
Ashco Niulab Industries Limited Thanks, ask by shri Venkat.
1. ashco niulab industries limited is a electronic component company and this share is spilt from 10 rupees face value to 1 rupees face value at 8.12.2009 most of investors think this share fall sharply but this is a spilt adjustment ( when a stock spilt from 10 rupees face value to 1 rupees his price adjusted 1/10).
2. Promoter holding is 43.10 percent in this share is quite normal. Kotwani group is promoter of Ashco Niulab Industries Limited
3. In FY 08-09 this is a loss making company net loss of FY 08-09 is 1.85 million and December 2009 quarter EPS is only 0.01 not very exited revenue or profits.
4. in December 2008 promoter holding of Ashco Niulab Industries Limited
Is 9.51 percent than they increase his holdings 62.07 percent in sept 2009 and again decrease it 43.10 percent in December 2009 I think something is speculative there not fundamental.
5. book value of ashoo niulab is 1.13 and share traded at P/E of 119
6. Overall I think it is better to avoid this share.

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