This stock is being rigged up by some circles (Rs 135). The company hit the capital market few months back at Rs 120 per share. Low promoter holding of 70%, no great track record were the key aspects of the business. For last few months the US dollar is weakening and we have advised to stay away from the export oriented companies including the leather articles manufacturers. Evinix performance for FY2006-2007 is not really worth talking. The stock is the dearest counter in this segment. There are better bets like Crew BOS and Mirza Tanners if you are considering one. However we prefer staying away from this sector.
If you are holding any shares in this counter, this is the best opportunity to book profits and get out of it. To the best of our understanding the stock does not deserve the valuations it is enjoying as of now.
No comments:
Post a Comment