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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Chinaman drawn to Blue Diamonds!

Chinaman drawn to Blue Diamonds!

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1Chinaman drawn to Blue Diamonds! Empty Chinaman drawn to Blue Diamonds! Sun Dec 01, 2013 11:13 pm

sriranga

sriranga
Co-Admin
* Blue Diamonds Jewellery tops list of stocks attracting net foreign inflows last week and second biggest percentage wise gainer

* New investor from China picks up first stake in struggling export firm; foreign holding shoots up to 8% last week from mere 0.6% previously


Long-struggling Blue Diamonds Jewellery Worldwide Plc had a rare moment of lustre last week when it was responsible for the highest foreign inflow, apart from being the second biggest percentagewise gainer.

Pipping top blue chip JKH, Blue Diamonds Jewellery (BLUE) attracted Rs. 26.7 million worth of net foreign inflows whilst the former managed only Rs. 13.3 million last week.

The achievement for BLUE follows a first-time Chinese investor picking up a substantial quantity of shares. Net non-national buying in BLUE last week amounted to 7.8 million shares, propelling its foreign holding to 8% from a mere 0.6% previously.

In total BLUE saw around 14.55 million of its shares (14%)change hands via 1,056 trades for Rs. 50.36 million last week. From a low base, a 40 cents rise or 13.3% was enough to put it as the second biggest percentage wise gainers.

The Chinese investor collected slightly over five million BLUE shares at Rs. 3.50 each, in addition to collecting few more blocks on Friday. There was another foreign investor too.

Among sellers was ECL Soft, which sold over three million shares worth over Rs. 11 million on Thursday.

As of end September 2013, ECL Soft Ltd. (a subsidiary of eChanneling Plc) held 18.3 million shares or a 17.7% stake. The second biggest shareholder in BLUE is Sri Lanka Insurance (General Fund) with a 10.2% stake).

If analysts’ estimates are correct, the Chinese investor will be the third largest shareholder.
Blue Non Voting saw 6.9 million shares traded for Rs. 8 million.

In the first half of FY14, BLUE’s turnover was down by 41% to Rs. 29 million (2Q it was down by 46% to Rs. 19 million). Gross profit was down by 40% to Rs. 7.9 million in the 1H and by 20% to Rs. 7.6 million in 2Q.

Loss from operations in 2Q was up by 187% to Rs. 1.27 million whilst in the first half it was down to Rs. 11.4 million from Rs. 13 million in the corresponding period of last financial year.

Net finance income of Rs. 5.4 million in 1H and Rs. 2.15 million in 2Q helped to improve BLUE’s bottom line. Nevertheless BLUE ended the 1H with a loss of Rs. 5.8 million, lower in comparison to Rs. 9 million loss a year earlier.

Having eliminated past losses (over Rs. 900 million by end FY11) with a capital reduction exercise previously, BLUE continues to be saddled with Rs. 65.4 million retained loss , up from Rs. 42.5 million a year earlier and Rs. 59.6 million at the end of FY13.
http://www.ft.lk/2013/12/02/chinaman-drawn-to-blue-diamonds/

http://sharemarket-srilanka.blogspot.co.uk/

2Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Mon Dec 02, 2013 12:15 am

Jake Sully

Jake Sully
Manager - Equity Analytics
Manager - Equity Analytics
One of the good things about this company, irrespective of all the manipulation in the share prices which were alleged to have happened, is still they employ big4. And that is enough to attract a good investor base.

3Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Mon Dec 02, 2013 3:31 am

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
well what i heared is its a pump and dump ploy by the well equipped crooks ! good luck keep your fingers away from fire !

4Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Mon Dec 02, 2013 3:33 am

dasdas1990


Stock Trader
@anges wrote:well what i heared is its a pump and dump ploy by the well equipped crooks ! good luck keep your fingers away from fire !
Dear Sir,

It is not pump and dump.

5Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Mon Dec 02, 2013 10:23 am

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
What are the shares which are not Pumped and Dumped?

6Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Mon Dec 02, 2013 8:39 pm

TheProfessional2013

TheProfessional2013
Senior Equity Analytic
Senior Equity Analytic
@anges wrote:well what i heared is its a pump and dump ploy by the well equipped crooks ! good luck keep your fingers away from fire !

Yes You dont have the shares in hand that is why you are worrying about. Twisted Evil Twisted Evil Twisted Evil Twisted Evil Twisted Evil Twisted Evil Twisted Evil

7Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Mon Dec 02, 2013 8:44 pm

TheProfessional2013

TheProfessional2013
Senior Equity Analytic
Senior Equity Analytic
There are people in this forum who wants to show coloures without having talent or even a worthwhile knowledge to analysis a situation and just go by gut feelings.that is the most disappointing thing.

Just see how many comments I will receive for bellow comment hahaha. You will same time see the reality above by that time. Very Happy 

"I will give you a price of Rs. 16-20 per share for BLUE.N0000 within a month time from now"



Last edited by TheProfessional2013 on Mon Dec 02, 2013 8:47 pm; edited 1 time in total (Reason for editing : grammer)

8Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Tue Dec 03, 2013 12:25 am

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
i believe it might goto around 160-200 levels ! good luck ! lol

9Chinaman drawn to Blue Diamonds! Empty Re: Chinaman drawn to Blue Diamonds! Tue Dec 03, 2013 9:06 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@hariesha wrote:What are the shares which are not Pumped and Dumped?
Just mentioning one..

TJL - IPO opened in a bad time of CSE where bear was still in effect and dragged this counter to 7 level from 15. Everyone gave up and sold in between. Then we witnessed an ascending triangle being formed ans confirmed with the breakout at 8.3. TJL peaked at 10.3 (more than the price target) saw falling to 8 again (in between fib levels 61.8% & 78.6%).
Then again we saw a slow collection up to 10.3 and confirmed another ascending triangle formation. In the middle of this, we also saw buy signals getting generated by 14day MA crossing 50 day MA.
Here, rather than a distribution, after hitting 12.5 we saw another collection up to 13 and finally rallied up to 16 and now re-tracing to 14.60 (Fib 38.2%). Whether it can stay there or go to 14.10 before the next collection is up to retailers.

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