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Tuesday, November 10, 2009

JIK Industries Ltd:Whats cooking,target price,results and analysis,buy/sell/hold,future prospects and oulook

Scripscan:JIK Industries Ltd

Story:JIK Industries, Ltd., a diversified company, engages in manufacturing and exporting lead-free crystal glassware. It also engages in recycling of chemicals, trading, and distribution and retailing, as well as money changing and money transfer activities. The company was founded in 1990 and is based in Mumbai, India.So honestly it has no meaningful business worth talking about.In the quarters ending march 2009, june 2009 and September 2009, the company posted sales of around Rs 1-57 lakh each and an net profit of Rs40 lakh loss, Rs2 lakh and Rs1.3 crs, respectively.But BSE-listed companies like these are ripe for manipulaion. The stock has zoomed a humungous 400% in the last six months. Neither the regulator nor the BSE appear concerned.Simple gullible retail investors would get lured by the rise and inevitably with every manipulated upper circuits the greed would inch up only to see the nosediving of the counter to its deserved level after a while.Folks rather than blaming stock markets blame yourself for your losses.

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