Flash News Investment - - RECOMMENDATIONS -

{Ticker : 514034 {FV: ₹10 52-Week H/L: ₹326/136 We had rec­om­mended JBF In­dus­tries in Vol­ume No. 33, Is­sue No. 31 (dated May 22, 2017) when the scrip was trad­ing at Rs 287. Our rec­om­men­da­tion was based on fac­tors such as its strong sales and ex­pan­sion plans. Later we had re­viewed this stock in Is­sue No. 42 (dated Au­gust 10, 2017) when it was trad­ing at Rs 153. Due to de­mon­eti­sa­tion and GST, the com­pany's per­for­mance in H1FY18 is un­der pres­sure. The pro­mot­ers have pledged 99.75 per cent of their eq­uity to lenders, up from 85.98 per cent as of end-June. The com­pany man­age­ment was in talks with banks and was ex­pect­ing an out­come which would ben­e­fit the share­hold­ers. But cur­rently we see slow re­vival in the com­pany. We ex­pect very lim­ited up­side in the stock price. Hence, we rec­om­mend in­vestors to EXIT from the scrip.

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