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Monday, August 18, 2008

SEL Manufacturing Company:-Meter down,down,down..

Scripscan:SEL Manufacturing Company Ltd
Story:Read on

Story:SEL Manufacturing offlate has been hammered horrendously with its stock price plumeting over 65% in the last few trading sessions.Principal cause for the fall can be attributed to the selling of one of its large stakeholders,Mr Nirmal kotecha who has reduced his stake by over 3% in the same period.It would be prudent to note that Mr Kotecha who is one of the renowned traders of India has been a votary of dumping stocks.Scrips like Atlanta,piramyd saimira which performed excedingly well over the past periods were butchered by this self-made man of 30.Will the same fate spill over to sel manufacturing too?Only time will tell us but as of now opting for the scrip may avail yourself a 'bouqet of uncertainity' on your mind.I am amazed to see the exchanges not reducing its circuit filter to tame the major volatility.On the business front its nothing tremendously exciting-A small textile player belonging to the saluja group-just trying to spread its wings,valuation wise much better and cheaper better are available.Recently some research houses initiated a buy rating on the counter but I doubt whether some unscruplous activity is the route for that sake or not.Investors are suggested to stay out of the counter and consider all its announcements and recomendation with a pinch.Its been often the stunt which gets played for the gallery these time too,who knows maybe the stunt just got performed.

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