Tuesday, November 07, 2006
Pantaloon at life time high
No matter how much time I spend in the Indian stock market, there are some price movements that always leave me puzzled. For example, today Pantaloon Retail touched a life time high of Rs. 2180. This is a tremendous high for the company, and coming so soon after Reliance Retail started execution of its mega plans, it did not make sense to me. However, there is a sense that the retail market is headed for big times and will partake of the growth in the Indian economy for many years to come.
It's current P/E is above 87, which is extremely high. Getting into such a stock is risky. There is tremendous potential for growth, but there is liable to be heavy competition including people with extremely deep pockets. In such a scenario, it may take time to grow. 87 means that the company will have to grow at very high rates for a number of years. How achievable is this ?
Now, onto the Indian stocks that I am tracking. How is it possible that I track so many stocks every day. Well, I try to track atleast some of these, and putting them in this blog means that I can refer these stocks from wherever I may be located. I am also exploring a way to put some kind of portfolio tracker in the web page itself that will show the stocks from the day that I mentioned them.
1. TTK healthcare - 102
2. Leela Hotels - 64.75
3. Span Diagnostic - 63.65
4. Mahindra Gesco - 804
To be updated when a new post is made, click on the icon Site Feed