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Moneycontrol.com >> Message Board >> View Messages >> Oswal ChemandFe
   You are here :     Moneycontrol     MMB    Stocks      Oswal ChemandFe                         Most active discussions of 2006 , 2007 & 2008
Not good for long term. (5)   15-Jul-08 17:02Tracked by (1)  
Posted by:   reliabull on ( 15-Jul-08 17:02 )
Price : , NSE: Rs. 25.65 ( -5.18 % )
Hi all. I have exited this company long back at 38 after entering in at 55, 44, 17 in 2005. I have even personally visited the chembur land to check out the prospects. I had spoken to the caretaker.These people often reveal truer details than management. Take my word for it, the company is not worth its salt or fertilizers. They have only retained the name as fertilizer companies will be getting government benefits. They have been restructuring for over 2 years now. And they haven\\`t even bothered to change their name. Why?? It is just a ploy to gain in the markets. People in the know talk about ADAg group showing interest. But Sonata investments and Reliance Mutual fund have exited long back. Obviously they too have figured out the uselessness of this company. Please check public holdings in Mar 2007 and Mar 2008 on NSE website. The land belonging to the company lies amidst the refineries of HPCL and BPCL. The access road is BAD and there are hardly any residential places nearby. It is far from Chembur main city too.Therefore, i don\\`t see any kind of a Phoenix mill development happening. The ONLY reason why you may buy this now is to make some quick money in a few months time. This stock will bounce back. But it is PURELY a trading play, just like its promoters interests. No sound business here. Cheers
Reliabull

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