Friday, August 26, 2011

SKS MICRO TANKS AGAIN

The stock is down 5% today. In the last one month the stock has lost more than 60%. The much hyped IPO of 2010, where in the shares were issued at a premium of Rs 975, is now trading at Rs 217.

From the day one First Choice IPO has been indicating that the business model of SKS is flawed.

We have been giving selling call right from Rs 1300 level. Sell at current price too. It will come down below Rs 100. Apart from numbers, there are corporate governance issues. SKS needs major surgery.

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