Scripscan:Timex Group India Ltd
Code: 533014
cmp:26
Story:Timex Group India Limited engages in the manufacture and trading of watches in India and internationally. It offers various collections of watches in fashion, sports, and outdoor lines for men and women. The company also manufactures tools, moulds, and plastic components for other parties. In addition, it provides after sales service to its customers. The company was incorporated in 1988 and is based in Noida, India. Timex Group India Limited is a subsidiary of Timex Group Luxury Watches B.V.Timex is not really a small stock considering the fact that it is a Re 1.But my own belief is that MNC stocks gradually will keep on improving and they will start becoming costly. The fact that the parent is the largest watch manufacturer in the US and although initially it did not get India’s strategy right but as more products get introduced in India and also considering the fact that 2011 they are the official sponsors, I think its going to make some new launches in the present year which should make the topline as well as the bottomline look healthy in the coming fiscal.It could be a good pick for long term investors.One may not see immendiate gains arising out from the counter but if kept for 2-3 years certainly then solid gains may accrue.From a trading perspective being a high beta counter one can buy at 20 to exit at its resistance levels.
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