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Sunday, June 26, 2011

Biggest loser stocks from their yearly high



Aforesaid stocks are the biggest loser stocks which have fallen most from their 2011 high price.
GTL topped the list, it fell on the news that lenders, who having pledged stocks by promoters, dumped the stocks which resulted in sharp decline of the stock.
Other story romping in the market is, Indian black money abroad came onshore in disguise of P-notes of some foreign funds to buy shares like GTL (and Orchid chemical, SKumar etc), and foreign fund houses got jittery due to increased scrutiny by SEBI and dumped their holdings.
Polyplex and Jindalpoly both from packaging industry too came down with fears of slowing growth in FMCG and Pharama sectors which provide major business to them.
It shall be interesting to look into fundamentals of these packaging shares if they fall further, as this could give us value investing opportunity.
I shall overlook LITL and Gammon India till interest rates smoothens out.
Another interesting share shall be BEML, and it too shall be a good buy if corrects further.

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