Investment Queries

Investment Queries
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First Published: Mon, Oct 08 2007. 12 22 AM IST
Updated: Mon, Oct 08 2007. 12 22 AM IST
I have 4,300 shares of Teledata Informatics Ltd purchased at an average price Rs83 per share. Should I hold /acquire more at current price of Rs58? Any news about splitting of Teledata Informatics Ltd into three companies? Why has the AGM for 2006-07 been postponed to December?
S.A. Deshpande
Teledata Informatics Ltd is currently in a downtrend, which started on 3 September. The stock now has support at Rs52 and Rs48. Hopefully, it will bounce back from there. You may hold your stock for some more time and may average it a bit around the second support level. But fresh building up of position is not recommended.
As far as the demerger of the company is concerned, the last information available to me is that the company was awaiting a Madras high court order. Regarding your last query, the reason for postponement of AGM was not clarified by the company in its press briefing issued on 21 September.
Eighteen months ago, I bought 50 shares of Eveready Industries India Ltd at an average price of Rs130. Please comment on the future of the company and whether I should wait for some more time or book a loss now.
Sharad
Purely technically, Eveready Industries India has an important resistance level at Rs58, which will decide the trend in the medium term. If the stock breaks this level with good volume and closes above it, you may expect Rs71-72 levels. If things do not change fundamentally for the firm, you may sell this stock around the levels mentioned above.
I have about 2,000 shares of IDBI Ltd at an average purchase price of Rs85 and 500 of IFCI Ltd bought around Rs20. Is the time ripe to exit these stocks?
B.K. Punj
IDBI has a good medium-term outlook and the stock can touch levels like Rs184 in a year. Thus, if you can wait for such a period, then you should hold the stock. As far as IFCI is concerned, it is difficult to take a call on its price targets because of the element of speculation in this stock. But, as a safe strategy, you may apply a stop-loss of profit around Rs71 and stay long in it.
I have 34 shares of Grasim Industries Ltd purchased ages back, of which I sold 17 shares when it touched Rs3,200 some weeks ago. I did not know it would cross Rs3,600 as it did last week. Should I hold or sell the stock?
Anil
If you have a long-term perspective, you should hold the stock. You may see a good technical correction in markets, but with a long-term perspective, the stock still holds promise.
The answers are based on a technical analysis of markets and individual stocks. The views expressed on this page are not the newspaper’s opinion and are provided for information purposes only by Vipul Verma. Readers are requested to do their own research before participating in stock markets. Neither the paper nor the information provider will be responsible for any action and outcomes based on information provided here.
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First Published: Mon, Oct 08 2007. 12 22 AM IST