Excel Crop Care had hit a new 52-week low yesterday at Rs.126 and today, currently it is up almost 11.5% at Rs.143. There are over 8 times more buyers than sellers on the counter. Volumes are mammoth at over 11,000 shares being traded compared to around 2100 shares traded over past two weeks.
The stock literally shot through the roof today after news came in that the Supreme Court has allowed export of unused stock of Endolsufan insecticide manufactured in the country. On September 30, SC had allowed the company manufacturing Endosulfan to export nearly 1,100 tonnes of the pesticide to meet their contractual obligations while maintaining the ban on its use and production.And this removal of ban brings relief to Excel which is India’s largest endosulfan manufacturing company. All companies around the world are evnetually expected to phase out use of endosulfan gradually and in the next year or two, we could see a complete phase out. On Tue, Dec 13, 2011 at 11:16 AM, RAJESH DESAI <[email protected]> wrote: > Rico Auto was at a 52-week low yesterday at Rs.9.26 and today, it is up > 5.4% at Rs.10, with an intra day high at Rs.10.55. Volumes are pretty > robust at over 79,000 shares being traded compared to around 37,000 shares > traded over past two weeks. > The stock has bounced back today after it announced that it has sold its > entire 475680 fully paid-up equity shares of Rs. 100/-each of the JV and > subsidiary company, KRP Auto Industries to the other JV partner, Kailash > Royal for a total consideration of Rs.20.30 crore. For Q2FY12, the company > had done well, with a net profit of Rs.3.6 crore on a net sales of Rs.272 > crore. Its net margins remain wafer thin at around 1%. > > > -- > CA. Rajesh Desai > > -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
