1)scripscan:Prraneta Industries Ltd
cmp:16
Code:531611
Story:Most of the companies that figure in my "MULTIBEGGER" section are small, shady companies. Prraneta Industries Ltd being no exception. Prraneta Industries Ltd is from an era when trading companies made quick money out of simply anything.With such an uninspiring business model, what is its size of operations? Its basically a trading house with hardly any prudent business model.Over the past six years the sales remained to less than 4 crores with just rs 1 lakh pAT.The fundamentals of this company as one can see makes no sense.I guess, there were not many clients for its trading business during the recession. Prraneta Industries Ltd with simply nothing to talk about still attracts an astounding market cap of nearly 130crs.For some reason, in the last 1 year the stock has rallied an incredible 1200%.Is it the company’s name that has triggered the speculative rally or is some operator at work?I fail to understand how such a company can quote at such a mind boggling rate?. Probably because it is a great playground for speculators.
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Tuesday, September 8, 2009
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