Ashapura Minechem is one stock repeatedly recommended around Rs.40 level.Today stock hits its 52 week high @ Rs.60 .It was mentioned in my previous postings that the two negative points regarding this company is its pending court cases between few shipping companies and with some banks. Due to this reason ,its stock price was languish around Rs.40 level for a long period, even it reported excellent results in past two quarters. As per the reports of ET NOW ,company is in the process of a settlement between these parties and the same is expected to conclude within two months.Claim with shipping companies are expected to settle around Rs.75 Cr v/s original claim of Rs.800 Cr and dispute with banks on account of derivative transaction loss with a hair cut of 50 % .If this happens ,I believe there is scope for substantial appreciation even from current level.Recommending to HOLD the stock.
See ET NOW video HERE
Old posting on Ashapura HERE
See ET NOW video HERE
Old posting on Ashapura HERE
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