Scripscan:Cals Refineries Ltd
code:526652
cmp:34 paisa(.34)
Story:Promoters acquired listed NBFC and planned to set up crude refinery.Equity bloated to 794 crs through GDR issue. Company is intending to import IInd hand plant from Germany. To finance the same, it wanted to raise USD 500 mn from overseas.However, due to bad market conditions, company may not succeed.Hence, implementation of project is uncertain. However,some strong operators are trying to take the share price up and scrip is being recommended by everyone in the share market to everyone else in the share market. Fundamentals of the company are nil.Promoters make grandiose plans although company may have no substance.Same promoters acquired Hitkari Fibres and renamed it as SRM Energy. Here, promoters are dreaming to set up 4000 MW Power Plant. It will be a miracle with zero financials can implement billion dollar projects. It can quote at a mere 34 paisa but still attracts a massive 276crs marketcap.I can run a nomenclature of my buddies who loves to trade in this particular stock.They opt for Cals Refineries at below 30-35 paisa to sell the same at nearly 50 paisa,i.e,a gain of over 40%.You people may just do the same and rake the moolah too but as I have mentioned chances are the bet getting dumped resulting loss of entire money.Cals do have humangous aggressive expansion plans but I have got decent doubt regarding the projects materialization.Often in BSE it comes with influencing announcements to lure investors but the policy offlate has done little for them.So forget outlook or fundamentals,If you have to trade do trade else so many better high growth oriented scrips are there to pocket up.
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