we should not fall in trap in bs transcomm. it's just like microsec which had got subscribed better than others on 1st day, but now the result is in front of us. this may be good for long term but currently the valuations are high. i prefer to skip this one.
Dear Sreedhar, In Eros, I sold yesterday only the shares I bought. I still hold the allotted shares. Today I sold a part of my holding at 203 and will cover them in the end or at an appropriate time. As for Career point, I thought of your advice of buying at the close for an up move the next day morning. But the movement in the last minutes of the trade frightened me, so I did not buy. Hope you exited at around 700. Then it came down to 595 and is now hovering between 600 to 620.
Dear Natarajan, Did you buy careerpoint & Eros at yesterday's close as discussed by us earlier.I bought them both & sold them.That is another strategy of making money through IPOs,buy stocks which closed well & like Eros which is a value buy at 190.I have bought back my alloted shares in eros at 198 as I cannot moniter them.Now leaving for office.
What is your strategy on engineers india, it is showing some resistance at 360, is it better to hold for long term or we can exit. I am holding 35 shares from FPO.
Friends,I have sold my alloted shares & shares bought yesterday between 200-205 which is the resistance due to HNI breakeven.Lets see what will happen.I will cover between 190 -195.
Today's Business Line while asking the investors to 'Avoid' BS Transcomm has this to say: This company has done well to make a transtition from steel trader to manufacturer of towers for telecom and power transmission. However limited record in its new avatar, competition from established players, massive capacity expansion in a short term, entry into many business segments within power transmission and significant borrowings enhance the risk profile of BS Transcomm. The offer price of 257 to 266 discounts the estimated per share earnings of FY 11 by 14 - 15 times. This valuation is at a premium to large established players such as Jyothi Structures and Sujana Towers.