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Friday, November 6, 2009

Pace Textiles Ltd:Future growth outlook and prospects,why its running,buy/sell/hold?

Scripscan:Pace Textiles Ltd
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Code:512449

Story:Pace Textiles Limited engages in the trade of textile goods in India. It primarily trades in fabrics. The company was formerly known as Pace Electronics Limited and changed its name to Pace Textiles Limited in March 2008. Pace Textiles Limited is based in Mumbai, India. But what could possibly explain why the stock has gained a massive 600% between 1st april and 31st october 2009.Financially, this company is really weak. For the December, March and june quarters, the company posted sales of Rs 46 lakhs, Rs21 lakhs and 36 lakhs, respectively,and booked an profit after tax of Rs 2 lakhs, less thanx a lakh, and again less than a lakh in the respective quarters.You can keep wondering why stocks like these suddenly shoot up for no reason. Unless there is a thorough investigation at the Exchange level, we will all be groping in the dark. Will the new chairman of BSE find the time to look at these blatant cases of manipulation?
Posted by arun at 10:29 PM
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Investment in equity shares has its own risks.Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that I consider reliable. I,however,do not vouch for the accuracy or the completeness thereof.This material is for personal information and am not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.The stock price projections shown are not necessarily indicative of future price performance.The information herein, together with all estimates and forecasts, can change without notice.