Saurabh Mukherjee from Marcellus has bought stock and is pitching it to the whole world.That is reason enough to worry. But jokes apart…last three years there is no growth in profits.
I used to own this stock. The promoter had spun such great stories of growth and capacity expansion. However no profit growth for the last 3 years is a bitter pill to swallow.
QIP at Rs 794 has also contributed to stock fall. It has been a terrible performer in the last 3 years when most stocks have doubled.
Moral of the story: A great story has to be backed up by delivery of numbers. If not fundamentals ultimately catch up.
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