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Moneycontrol.com >> Message Board >> View Messages >> IFCI
   You are here :     Moneycontrol     MMB    Stocks      IFCI                         Most active discussions of 2006 , 2007 & 2008
sell at current levels and get out (5)   22-Jul-08 16:44Tracked by (0)  
Posted by:   Guest on ( 22-Jul-08 16:44 )
Price : BSE: Rs 40.75 ( 4.89 % ), NSE: Rs. 40.75 ( 4.76 % )
Dear Friends
two months back my broker told me to sell isp @Rs.36 and ifci Rs.64 to buy at lower levels and I did so. I passed the message to all of u at that time that ispat will touch 20 and ifci 30. The same thing happened.

Now i asked my broker to buy them then he told that for IFCI there is nothing and stake sale is old song that ifci is singing for last one year. Now govt is also not interested in ifci demands because all the banks and financial institutions and fiis who entered ifci sold their stake at higher price now they gone out. And ifci management is having most experienced and powerful board of directors. So there will be continuous power struggle in ifci ultimately which hampers ifci future prospects and stake sale. This power struggle problem was indirectly mentioned by Mr. Rai at the time of IFCI results. So there is no need to buy it hurrily now. We can get it at around Rs.15 from where it had started its journey first.

On Ispat ind. he told that first of all the management is not clean. Secondly ispat was unable to post good results in third qtr of last year. Now another most imp thing is someone named Mr.R.P.singh had been nominated on behalf of IFCI ltd. This increases the woes of the ispat management. The same thing had happend with meghmani organics for which IFCI had appointed a nominee and from then onwards the performance of the company drastically came down and also share price from 53 to rs.15. the same thing will happen to ispat and will also loose its thin good lines and u can buy it at around Rs.13 which is its year low.

i am not holding both ifci and ispat right now.
bye
raju

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