Atlanta has seen an appreciation of nearly 75% in the last fornight. The company is based out of Mumbai and said to be in talks with a lot of international companies for a joint venture. The stock has a chance to be a multi-bagger going forward. The chart already shows a steady climb in the share price of this scrip. Something to keep in mind.
10 Comments
December 19, 2006 at 2:35 pm
[...] I had written about Atlanta Ltd. in October that the stock has strong chances of being a multibagger. Well, as of today Atlanta is trading at 1300 levels. The stock has zoomed from 300 to 1300 in a month’s time. Good going !!! [...]
December 21, 2006 at 7:05 pm
I purchased Atlanta stock on 19th December while trading at 1315 level. Well, since 20th it has been going down hill. I wonder, if the stock is overpriced when P/E is over 400.
December 22, 2006 at 2:24 am
Mrinal … you have purchased the stock at high levels. I would recommend keeping a stop loss and sticking to the lower threshold. The general trend of the market has been in the downward direction in the last few days. However, we can expect a rebound sometime soon because of the strong fundamentals of Indian equities.
Also be wary that most of the time, such corrections are triggered by the day traders to lure investors into changing their positions on scrips. I would strongly recommend selling the scrip at stop loss positions and then reentering at lower levels. You have rightly pointed out that the P/E is over 400 right now.
December 22, 2006 at 11:06 am
Atlanta is on lower circuit for past 4 days!!!
February 24, 2007 at 2:57 pm
Investor should think before investing company such as Atlanta Ltd, when the issue price is Rs.150/- and it moves to Rs1300/- one should think that some vested interest people are behind for this abnormal raise and desist from investing in such companies. Moreover strong fundamental companies are hovering around with a lesser P/E ratio.
February 25, 2007 at 1:07 am
I agree with you Srinivas. However, Altana is a good fundamental play, and coupled with its triggers the price has moved swiftly.
There is a possibility that some people with vested interests might be driving the stock upwards – this is a risk that I have chronically highlighted in my blog posts.
We need to be careful of such situations and should always apprise ourselves of any sudden swings in either direction. A case in point is that of Ahluwalia Contracts that listed yesterday. Check out how the stock price movement went for that company.
March 25, 2007 at 9:33 pm
Read SEBI order of 30 pages on SEBI’s WEBSITE which caught promoters of Atlanta and OPERATOR GROUP belonging to Manish Marwarh and Nabra & Nirmal Kotecha having direct nexus, which has been proved. IPO proceeds were used to rig share prices to fool public & making complete mockery of system, order is detailed enough to inform a person on street to stay away from operated scrips. Nice to see that Regulator is in action and can check someone if they really want to. Similar concerns are expressed in case of nearly 10 other IPOs came in last six months and around 30 odd scrips which were operated by these operators and various fund raising was done through public issue/ FCCB/GDR issues- apparantly same modus operandi was used by these operators like Atlanta. SEBI should check all such cases.
Further, remedy should be provided to shareholders of Atlanta Ltd. and promoters of Atlanta should be punished for misrepresentation in prospectus & subsequently to Exchanges & for making FRAUDULANT ACTIVITIES with a prime intention to cheat investors. What needs to be seen is the next step of SEBI, surprisingly media- both print & electronic is silent on this very Important Issue.
March 29, 2007 at 3:57 pm
what abt the fiundamentals of this co. its has started from 150 to 1300+ and now at 283! pls be careful in investing in such co…
April 3, 2007 at 4:14 pm
Mrinal,
u should go for averaging ur cost of Atlanta. Buying at a level of Rs.225 will make ur average cost around Rs.750-800, and in a period of next two years u will be able to touch BEP (break even point – no profit no loss situation !!). To exit early u will have to buy rather more quantity as compared to first transaction, which will be very risky seeing the past trend of the scrip.
November 19, 2007 at 2:25 pm
Follow these guidelines and you will build that new home with little, or no, problems. bathroom shower can help…