dear everyone Is this the right time to start looking for picking up this stock for long time investment or do we get still better price levels to enter into the stock?
My view on every dip of 5% from hereon we can add atlest of the 20% of the
allocated money for the purchase of the share can be used to buy
views of the other members are most welcome
L&T stock hits 52-week low
'Markets have taken efforts to acquire Satyam negatively'.
S. Shanker Sharvari Patwa
Mumbai, Jan. 22 Even as Larsen and Toubro appear keen on being a suitor for the
beleaguered Satyam Computer Services, the L&T stock on Thursday touched its
52-week low of Rs 652 on the BSE, before closing 3.3 per cent lower over the
previous close at Rs 663.90.
L&T Capital, a subsidiary of L&T, raised its stake in Satyam to about 3.95 per
cent, a little before Satyam's founder-Chairman, Mr Ramalinga Raju, made his
disclosure.
"Fundamentally L&T is very strong, considering they had given higher advance
tax payments this quarter, but the markets have taken its efforts to acquire
Satyam negatively," said Mr Waqar Naqvi, CEO, Tarus Mutual Fund.
Analysts estimate the average acquisition price to be around Rs 157, which
takes the estimated buying value to about Rs 418 crore.
They view the event in negative light as it has already led to a substantial
portfolio loss at the prevailing price of Satyam.
There are uncertainties and issues of corporate governance concerning Satyam.
Given the lack of authenticity of Satyam's financials it would become extremely
difficult to put a value on the company.
Satyam is likely to face more litigation such as the US class action lawsuit
and the acquirer might have to face additional liability of unpaid litigations
in addition to the company being under the scanner of various government
agencies. Pending emergence of greater clarity, a strategic take-over of Satyam
was not right and it would adversely affect the sentiment towards the L&T
stock, they said.
In addition, Motilal Oswal researchers said while there had been no meaningful
delays till date for L&T, they believe that the probability of execution
challenges for segments such as metals/minerals (8-9 per cent of order book),
airports (9-11 per cent of order book) and real estate (6 per cent of order
book) had increased.
Green-field projects
Most green-field projects were likely to be postponed given poor demand
conditions and funding constraints. Airport projects, comprising Mumbai and
Delhi airports were facing issues such as delay in achieving financial closure
and in monetisation of real estate, besides decline in passenger traffic growth.
http://www.thehindubusinessline.com/2009/01/23/stories/2009012351151000.htm
ekamber
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