About The Company
Century Enka Limited established in 1965, is a joint venture of B.K. Birla group and Accordis group of Netherland.Century Enka Limited (CEL) has three plants with state of the art technology viz. Century Enka Ltd. - Pune, Konkan Synthetic Fibres - Mahad in Maharashtra & Rajashree Polyfil - Bharuch in Gujrat producing Nylon & Polyester Filament Yarns
This is a company which will be managed by Kumaramangalam Birla as that is his grandfather’s (BK Birla) wish. BK Birla group holds 25.23% stake in the company. In the AGM of the company, the patriarch BK Birla stated that promoters stake in the company would be increased to 40% within the next three years. LIC has a 8.24% stake in the company.
About The Financial Results
This BK Birla group company has continued with its stellar performance which it had shown in Q1FY10. Infact, it has bettered the performance.Just like in Q1, in Q2 also the topline on a YoY has declined but profitability has gone up. On a YoY, net sales was down 4% at Rs.311.47 crore. The company continues to bring down its costs. Raw material costs were down by 22% and employee cost was down 20% and this helped boost the overall margins.
Net profit was up by an unbelievable 6 times on YoY at Rs.32.76 crore. QoQ, net profit was up 15%. Q2 also saw the company post one of its highest profit margins in recent times. OPM was at a very healthy 21.84% as against 12.55% in Q1FY09. NPM was up at 10.52% compared to 1.55% in previous first quarter.
Net profit for the first half of FY10 stands at Rs.61.11 crore and this is already 3.6 times the net profit of Rs.16.62 crore it posted in 12MFY09.The company's equity capital is Rs 20.05 crore and the annualized EPS on the face value of Rs.10/share stands at Rs.65.36.
About The Stock
My personal opinion on this stock with regard to its’ price performance in short to long term on basis of Fundamental analysis , Technical analysis and exclusive multi bagger reliable news sources are exclusively reserved for the registered member with detailing of the same. Only registered member have right to email me mentioning the name and date of registration to ask for the same.
My personal opinion on this stock with regard to its’ price performance in short to long term on basis of Fundamental analysis , Technical analysis and exclusive multi bagger reliable news sources are exclusively reserved for the registered member with detailing of the same. Only registered member have right to email me mentioning the name and date of registration to ask for the same.
The market did open flat to negative with seen selling pressure again since opening and ended with negative closing with broken and its major support of 4810-4785,and given a decisive close below this mark.It was advised that market may be under pressure if once it breaks and sustains below 4810 and then 4725 level was expected due to selling pressure and market almost turned from this level with making a low of 4738.Market is seems to be very crucial now as if 4725 is not be saved by the bulls then this final sell off can show 4665-4580 in the downside and the immediate hurdles it will face now near 4810-and then 4850.Still market if rise selling is not ruled on every rise as long as its not close and cross 4810-50 level decisively.
NIFTY (4750.55)
Resistance : 4810 / 4855 / 4890
Support : 4715 / 4680 / 4605
SENSEX (16052.72)
Resistance : 16180 / 16345 / 16640
Support : 15900 / 15675 / 15295
NIFTY FUT (4774.85)
Resistance : 4820 / 4840 / 4865
Support : 4750 / 4715 / 4670
On Tuesday,Opening Is Flat To Down,
Buy NIFTY Above 4775,Sl Below 4760,Tgt 4805/4830/4855/4880+
Sell NIFTY Below 4760,Sl Above 4775,Tgt 4730/4705/4680/4655+
Huge Risky Traders : Buy NIFTY Above 4730,Sl Below 4680,Tgt 4805/55/4900/45/85/5010/50++
BUY
M&M Above 340,Sl 935,Tgt 945/50/55+
TATATEA Above 860,Sl 835,Tgt 880/90+
SELL
ZEEENT Below 230,Sl 235,Tgt 225/20/15+
SBIN (2196),Sl Above 2215,Tgt 2165/45+
I was trying to look at previous occasions when the markets fell for say 6 to 7 days in a row. The closest fit I could find was in November last year (above) where we had a 20% fall. Below is the current situation where we have dropped only 8%. It will be great if any of you can find some more examples of a 6/7 day fall. Just mail the details / chart to me and I will post it here. Thank you.
Sesa Goa has been in news for some time. Earlier it was in news for the 5x gains it has given from its lows and now it is in news for not so good reasons.
The government has ordered the SFIO to probe into mismanagement and financial irregularities in Vedanta Group-owned Sesa Goa and its subsidiary Sesa Industries (SIL),
The scope of (SFIO) investigations include looking into the state of affairs of the company and its subsidiary Sesa Industries Ltd, in respect of mismanagement, malpractices, financial and other irregularities
Nifty Fut 30/10/2009
Hur 4783/4801/4813
Sup 4768/4750/4711
Above 4813 no short
Below 4768 no long
NIFTY (4750.55)
Resistance : 4810 / 4855 / 4890
Support : 4715 / 4680 / 4605
SENSEX (16052.72)
Resistance : 16180 / 16345 / 16640
Support : 15900 / 15675 / 15295
NIFTY FUT (4774.85)
Resistance : 4820 / 4840 / 4865
Support : 4750 / 4715 / 4670
On Tuesday,Opening Is Flat To Down,
Buy NIFTY Above 4775,Sl Below 4760,Tgt 4805/4830/4855/4880+
Buy NF Above @ 4790 and 4805 Target 4835-4879 to 4890.SSL-4760.
Main resistance 4801-4813-4838
Sell NF Below @ 4768 and 4760 Target 4746-4701 to 4612.SSL-4801.
Main support level-4660-4596-4575
Sell NIFTY Below 4760,Sl Above 4775,Tgt 4730/4705/4680/4655+
Huge Risky Traders : Buy NIFTY Above 4730,Sl Below 4680,Tgt 4805/55/4900/45/85/5010/50++
BUY
M&M Above 340,Sl 935,Tgt 945/50/55+
TATATEA Above 860,Sl 835,Tgt 880/90+
SELL
ZEEENT Below 230,Sl 235,Tgt 225/20/15+
SBIN (2196),Sl Above 2215,Tgt 2165/45+
NIFTY VIEWS:
RES:4780-4826-4865
SUP:4738-4710-4680
TOMM NIFTY MAY OPEN IN +VE BIAS ON STRONG UPMOVE IN U.S MKTS,RIL
RESULTS MAY DRAG AT OPEN
Hur 4783/4801/4813
Sup 4768/4750/4711
Above 4813 no short
Below 4768 no long
NIFTY (4750.55)
Resistance : 4810 / 4855 / 4890
Support : 4715 / 4680 / 4605
SENSEX (16052.72)
Resistance : 16180 / 16345 / 16640
Support : 15900 / 15675 / 15295
NIFTY FUT (4774.85)
Resistance : 4820 / 4840 / 4865
Support : 4750 / 4715 / 4670
On Tuesday,Opening Is Flat To Down,
Buy NIFTY Above 4775,Sl Below 4760,Tgt 4805/4830/4855/4880+
Buy NF Above @ 4790 and 4805 Target 4835-4879 to 4890.SSL-4760.
Main resistance 4801-4813-4838
Sell NF Below @ 4768 and 4760 Target 4746-4701 to 4612.SSL-4801.
Main support level-4660-4596-4575
Sell NIFTY Below 4760,Sl Above 4775,Tgt 4730/4705/4680/4655+
Huge Risky Traders : Buy NIFTY Above 4730,Sl Below 4680,Tgt 4805/55/4900/45/85/5010/50++
BUY
M&M Above 340,Sl 935,Tgt 945/50/55+
TATATEA Above 860,Sl 835,Tgt 880/90+
SELL
ZEEENT Below 230,Sl 235,Tgt 225/20/15+
SBIN (2196),Sl Above 2215,Tgt 2165/45+
NIFTY VIEWS:
RES:4780-4826-4865
SUP:4738-4710-4680
TOMM NIFTY MAY OPEN IN +VE BIAS ON STRONG UPMOVE IN U.S MKTS,RIL
RESULTS MAY DRAG AT OPEN
Nifty :: We clearly indicate in our yesterday post that those who sell above 5100 its time to cover there short in extreme deep near our white highlighted support.. And it is, with all short term oversold indicator Nifty made an Positive Three Gap Down short term bottom pattern.. Almost finish 3rd minor corrective wave.. 28 day’s rally wipe out in just 7day’s,faster retracement give conformation of top formation and that’s why avoid buy in extreme high but due to oversold indicator with bullish chart pattern our strategy for 30th Oct buy in deep (S.L 4670) sell at high (S.L 4897)… Last two candles once again made Bearish Trending Candle Take Over with Belt Hold Line bear candle a steady downward pattern, that’s why buy only in deep and avoid buy in gap up opening. Resistance for up move at 4785/4830/4851/ 4860/4867/4897/4934.. Supports at 4738/4700/ 4692/4670...
The charts given below are only for reference. Do your own research and risk management for taking a call on trades.
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