Indbank Merchantbanking ( BSE Code: 511473 ) - CMP Rs.45, Target Rs.150

[ram.ramanathan]

Hi All

Sorry for the short message to exit Indbank. As I said I was traveling and couldn't get much time to type up a detailed reason. The main reason I exited Indbank was because, I couldn't trust the financial results of the comany for the last 2 quarters. Even though Indbank is claiming that it made the Rs.7 in EPS in the first half through its main stream business, it is not believable. Usually if a company makes earnings from outside its main stream business operation, they are supposed to notate that in the results. But Indbank didn't do so. That's why I believed the numbers. But I studied the annual report of this company for the past few years and came to the conclusion that this much revenue and EPS could not have come from its main stream business. SEBI should regulate these companies for not notating it in the results.

Hope that explains why I exited at around 10% loss.

 

[Luckyboy]

thanks for your views RAM

 

[kkseal]

Now that you've got the Fundamentals and the potential upside, trade on technicals . This i think would be the best policy in a mkt that's now making near-parabolic moves.

Many thanks Mr Ramanathan for your fundamental view.

Regards,
Kalyan.

 

[rkkarnani]

Now that you've got the Fundamentals and the potential upside, trade on technicals . This i think would be the best policy in a mkt that's now making near-parabolic moves.

Many thanks Mr Ramanathan for your fundamental view.

Regards,
Kalyan.

Thats a good input : How TA and FA combination could be a a win win all the way!!!!
Thanks KK