HCC update. Today company made an announcement related to stake sale in its Swiss subsidiary Steiner AG for a consideration of 928 crores. (including debt and liabilities) This was hinted by the management in its last concall and management is walking the talk on that front.
Based on this newsflow stock price rallied and closed strong with 7 % gains. If we see some follow through buying and the flaglike pattern marked on charts plays out then potential technical target is close to 39-40. Also note the rounding nature of the whole structure with tops in region of 43 and 46. disc: invested as disclosed earlier.
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