Scripscan:Flawless Diamond (India) Ltd
cmp:33
Code:523576
Story:Flawless Diamond (India)is engaged in the business of manufacturing and marketing cut and polished diamonds and rough diamonds.Very honestly I simply dont like these sort of companies.Gems and jewellery as a sector never fascinated me irrespective of the immense potential.As far am concerned I can well buy a loss making company with a great M.D or even the management as the quality of the team can change the fortunes of a concern in a very short time.Flawless diamond recently announced a stock split to fv 1 re from rs 10.These stuff is so ridiculous..I mean we cant buy a company worth rs 30 odd or what?Whats the need of making it a 3 rs counter with a blotted equity?Sure volumes would increase but anything else?To me the answer is "hell NO".Maybe the management has a better answer to thesequestions.A reality check at the shareholding patterns breaks heart too.Promoter holding pegged at a mere 20%,now Owner or the main guys would always get the salary whether the company makes loss or profit.Large holdings brings commitment to the company as it would influence to work harder(the company performs, stock price moves up- the largest shareholder makes the most amount of money).Flawless often comes with announcemnets of bagging fresh orders worth rs several million but the results offlate has been disapointing.I hope and wish the stock price of these company moves up and makes fortunes for its shareholders.What if someones questions me regarding having some shares of the company?"Strict no" is the answer folks.
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Monday, August 10, 2009
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