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Monday, September 5, 2011

Brooks Lab loses glitter after good start


Brooks Lab IPO shares opened at Rs. 110 on BSE against the issue price of Rs. 100, but stock rose to the day's high of 131.10 in no time, but stock could not sustain that level and continuously went on falling.
By the time of this post, Brooks Lab was trading around Rs. 83 levels which are at the discount of 17% from the issue price.
Company is a small player in CRAMS (Contract Research And Manufacturing Services) industry where fierce competition makes it difficult for small players to grow as they miss the economies of scale.
That’s why I had advised my blog reader to stay away from this stock in the Brook Lab IPO Analysis Report.

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