Hi Friends,
Do nothing. You are doomed on this one. Keep holding and pray the company does not disappear from the bourses. Sorry for sounding harsh, but come on folks, do some fundamental checks before investing. And stay away from penny stocks.
I did some check on the fundamentals to see if I can help you. Bad news. The balance sheet is all screwed up. Reserves and surplus are -72Cr. Debt is 45 Cr, against equity of 56Cr.Capital work in progress is 0. And Net block is 22Cr.
In simple english, the company has no moeny. It does not have any growth assets. Whatever fixed assets it has, is too little. The shareholders dont have money. I dont know what are they going to do. If it were the US, they would be forced to declare bankrupcy.
On the flip side-
If they survived on similar performance last year, maybe they will make it this yr too. Will the stock shoot up if it shot up couple of months ago? Why are the promoters holding 75% of company? Too many questions ,and only 2 yrs data. Does anyone have their latest annual report?
All in all, I suggest you get some more info on the co. Or book losses and get into other plain vanilla companies with good fundamentals and juicy Technicals.
Thanks,
Mohan