GINNI FILAMNT is currently quoted at a price just below 42. For a long time this stock was down and all of a sudden it jumped to its present height with good volume. last month the stock was quoted at around 23 and all of a sudden it shoot up to all time high of 47 before settling at around 42.the golden question is why such a sudden interest in this scrip? Unfortunately I have no answer to this.
Now two questions arise
1. Should i buy this stock? Well!! it sure is worth a try after all only few stocks are helpful in making fortunes overnight.
2. Will i be safe after putting it in my portfolio?? welll! Well! Well! try to look a little deeper in the stock. Just around 19% of stocks are in the hands outside the promoters. not an impressive profitable result for sudden spurt in price seen. No announcement of diversification things like that which increases the confidence of the investors? Yes book closure coming inthe early September probably for paying the dividend. So what's going on??? Some internal rigging?? I don't know you make your own guess? But if someone is playing, if at all someone (remember the volumes are good), he is not playing by the rules. For me just a declaration of book closure is not good enough to double the price over the week.
So what to make out all of this. The target seems to be 52, but it may also go beyond that. so is it really worth a try.. I would say NO NOT for me!!!!! What if it doom next week? What about the sleepless night and heartburns it is going to give me if it falls. After all it is my hard earned money. I am not going to gamble and risk it in some scrip for which i have very less confidence. Yes the stock may still double from here but when or above all Why? At least i am not able to telll!!!! Of course i want to make and earn lots of money in stock market but not overnight, not by adopting risky shortcuts and certainly not in rash unplanned gambles(some call it calculated risk)!!!!!!!
But that is for me every one else has to make his/her own decision!!!!!!
Regards
RAVI T
