Saturday, December 3, 2011


Mahesh ji well i am holding CONFIDENCE PETROLEUM INDIA LTD. (BSE CODE 526829)35000 shares @12/- avg now stock traded at 8.50 what to do exit or buy here more please advice me

 1.Confidence petroleum is B group scrip with 1 rupees face value.
2.Scrip code of confidence petro is 526829.
3.Confidence Petroleum India Ltd has informed BSE that the Company has received Orders from Hon'ble High Court of Judicature, Mumbai Bench for amalgamation of (i) Maharashtra Cylinders Pvt Ltd (ii) Khara Gas Equipments Pvt Ltd & (iii) Hans Gas Appliances Pvt Ltd with the Company.
4.Promoter holding is 46.32 percent in confidence petroleum and they increase it from 45.91 % so i think this is positive point
5.I think in current price 6.18 is not a low price because face value of stock is only 1 rupee. value of confidence petro is 8.28 so i think this time this is a value pick.
7.just one year ago i give my negative view on confidence petro in this blog and after that stock correct from 23 to 6.18 so this time my view is positive for confidence petro due to increasing promoter holding and good book value.
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