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Sharmila Joshi of Asit C Mehta is of the view that one should not invest in shah petroleums for long term.
Joshi told CNBC-TV18, " Sah Petroleums won't really much go lower than this level. The quarter results were okay; they are in a niche market. They make lubricants, which are used in a lot of sectors, industrial sectors, automotive sectors. So they make lubricants and greases. They have expanded their capacity. It has not spent more than a year on the exchanges. They have already given a bonus issue. So there has been lots of happening on the stock in that sense.
She further added, "Nothing really exciting is going to happen in the stock. But, if you really don’t want to sell the stock at a loss then stay put and when one gets that Rs 19-20 level then exit it. Though it is a decent enough business, valuations are also fairly cheap. It is not the kind of stock that I would recommend to be invested in for very long."
"There are other industries and other sectors, which look better. One would have to wait for 8-10 months to get a decent enough upside from Rs 15.5 level.
May 23 2013, 13:57
- in MARKET OUTLOOK
May 23 2013, 09:33
- in Technicals