Share price of Orchid Chemicals crashed from a level of Rs.300 to Rs.115 in this calendar year. Overall market crash and not so encouraging second quarter result was a reason for this down trend .But the most important reason was the uncertainty related with the redemption of FCCB ,which is due for redemption in February 2012.Now in a filing to stock exchanges , company informed that they have already tied up funds for FCCB redemption . This is a good news and share price is expected to recover .Those with a long term view may enter @ CMP of Rs.136/-
Wednesday, 21 December 2011
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