Sintex Industries Limited

Discussion in 'Ask A Query About Your Stock Picks And Portfolio' started by shubham, May 21, 2016.

  1. shubham

    shubham Member

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    I bought this stock @115 6 months ago, most of the experts were bullish on it giving targets of 150-200.
    But it is still languishing at around 75-80.I can hold it for a year, should I average it or not.Please guide
     
  2. kharb

    kharb Well-Known Member

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    Averaging should be done in high quality blue chip stocks ,like HDFC bank,Asian paints etc,as blue chips always make new high.
     
  3. XSgain

    XSgain New Member

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    Never rely on "Experts"....You would go bankrupt like me...

    Way back in 2007 and before that, I bought Unitech, GMR Infra, Jaiprakash Associates, Karuturi Global, Satyam, Renuka Sugar, etc...The so-called Experts were very bullish at that time...I thought these would grow long term and held on to them....And finally exited all of them around 90% loss and is a beggar now....Still there are few other shits in demat that is no longer trading at all.....

    But the fault is mine, I repent for it....

    Cannot find another idiot like me
     
  4. kharb

    kharb Well-Known Member

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    Rely on blue chip sector leaders, even after blood on whoke infra sector, people survived with infra leader L&T.So have company of sector leaders preferably in growth sectors.
     
  5. shubham

    shubham Member

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    So should I hold or book loss
     
  6. Srouta Mukherjee

    Srouta Mukherjee Well-Known Member

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    I think book loss is better because Co has declared huge FCCB issue

    The board of directors of Sintex Industries on Thursday approved opening of an issue of foreign currency convertible bonds. The company said that the closing and finalisation of the issue terms (including issue price) are expected to take place on May 20. The board had earlier approved an FCCB issue of $200 million (₹1,338 crore). Shares of Sintex Industries will remain in focus, as analysts and investors will keenly watch the developments on the FCCB front.

    https://www.thehindubusinessline.co...ue-to-keep-sintex-in-focus/article8621652.ece

    FCCB means big currency risk is taken by CO. Also it means equity dilution is there. So Co will not come back to favour in near time. Better to book loss and go for some other stock with growth prospect.
     
  7. shubham

    shubham Member

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    I shall be very thankful if anyone can suggest some good midcaps so that i can switch to it from sintex industries to recover my losses.
     
  8. w4wealth

    w4wealth Well-Known Member

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    friend sintex is not a bad company. but unfortunately down by 30% from ur buy price. if u like the co. and its prospects u can averge.
    other wise hold. dont book losses. wait for recovery.
    midcaps for investing TCI, FCEL, NIIT, Dish tv
     
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  9. shubham

    shubham Member

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    But friend ca
    But friend can you explain why they are again raising funds.My point is they already have incurred huge capex,in the spinning project which outcome is uncertain,now again they are raising approx 650 crores through fccb
     
  10. Srouta Mukherjee

    Srouta Mukherjee Well-Known Member

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    The net proceeds from the offering of the bonds will be used to repurchase or repay the outstanding principal, accrued and unpaid interest on the FCCBs issued in 2008, the company said

    https://www.business-standard.com/a...end-falls-post-fccb-issue-112111900094_1.html

    Co is serial dilution of equity and wealth destroyer.
     
  11. Srouta Mukherjee

    Srouta Mukherjee Well-Known Member

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    What other stock you have in portfolio? Can you % of Pharma, FMCG, Textiles, Chemicals, Infra etc better to have proper balanced portfolio with long term prospect.
     
  12. shubham

    shubham Member

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    Script Rate Quantity
    Amtek Auto 40 1000
    Adlabs Entertainment 91 300
    HCC 32 1000
    HFCL 18.65 2000
    Sintex 115 400
    ONGC 201 200
    Jain Irrigation DVR 40 800
    Orchid Pharma 56 700
    GTL Infra 2.5 3000
    Snowman Logistics 85 600
    ITNL 120 400
     
  13. shubham

    shubham Member

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    Ambuja cement 200 @225.40 and idea 200 @125
     
  14. w4wealth

    w4wealth Well-Known Member

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    wait for the outcome of the events. sintex is a profit making co. no need to worry.
     
  15. XSgain

    XSgain New Member

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    Yes, you need not worry about Sintex....It has bounced from around Rs 17 levels in August 2013 to around Rs 125 recently.....You can hold it for long-term...It will give you good returns in a few years...But short-term fluctuations cannot be avoided, might even get below Rs 50 to Rs 40...
     
  16. MoneyWorks4ME

    MoneyWorks4ME Active Member

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    Who are experts? They are guided by their vested interests
     
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  17. Feroz

    Feroz Member

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    It is no harm if one enters fundamentally strong one but better to exit even this if achieve 15% 20% in the short term. Long term is not going to workout in this instant world.
     
  18. shubham

    shubham Member

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