What's hapeening with SFS

Deva · 1 What's hapeening with SFS Tue Jun 21, 2011 1:57 pm

Deva

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Dear friends, SFS is pulled down to 63. Currently I am at a loss situation.
Is it advisable to hold on? Will it crash further tomorrow?

Last edited by Quibit on Tue Jun 21, 2011 1:58 pm; edited 1 time in total (Reason for editing : please avoid Hi, Bye and Thanks....in your posts)

UNI · 2 Re: What's hapeening with SFS Tue Jun 21, 2011 2:01 pm

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definetly my frend this is a high risky share...it cn go to 40s...

RIO · 3 Re: What's hapeening with SFS Tue Jun 21, 2011 2:11 pm

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Deva wrote:Dear friends, SFS is pulled down to 63. Currently I am at a loss situation.
Is it advisable to hold on? Will it crash further tomorrow?

If it's me for sure will exit at minimal loss rather than becoming an automatic long Term investor...at the same time should tell you the truth, If it's me I'll never buy such a share even @ 40/-......! but its your money & you have to decide upon it...!

Deva · 4 Re: What's hapeening with SFS Tue Jun 21, 2011 2:21 pm

Deva

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Thank you friends.

cse.alpha · 5 Re: What's hapeening with SFS Tue Jun 21, 2011 2:52 pm

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SFS - Book value of Rs 11.3 per share as at 31st Dec 2010

9 months ended 31st Dec 2010 profit of Rs 51 mn (9 month EPS = Rs 2), up from FY10 profit of Rs 17 mn

But before you decide whether SFS is worth current price or not, please note that auditors have expressed concern on both FY09 and FY10 financials.

FY10 Auditors were BDO Partners - Unable to satisfy inventory of gold stock, and real estate not measured at lower of cost or net realizable value

FY09 Auditors Saverimuttu & Co - Unable to place reliance on IT systems of company, and said financial statements do not give true and fair view

StocksWatch · 6 Re: What's hapeening with SFS Tue Jun 21, 2011 2:58 pm

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cse.alpha wrote:SFS - Book value of Rs 11.3 per share as at 31st Dec 2010

9 months ended 31st Dec 2010 profit of Rs 51 mn (9 month EPS = Rs 2), up from FY10 profit of Rs 17 mn

But before you decide whether SFS is worth current price or not, please note that auditors have expressed concern on both FY09 and FY10 financials.

FY10 Auditors were BDO Partners - Unable to satisfy inventory of gold stock, and real estate not measured at lower of cost or net realizable value

FY09 Auditors Saverimuttu & Co - Unable to place reliance on IT systems of company, and said financial statements do not give true and fair view

As usual, you have highlighted some important facts from the auditors reports that must be considered before someone takes the decision to invest in this company. Thanks for bringing these points to our attention.

Kaush · 7 Re: What's hapeening with SFS Tue Jun 21, 2011 3:00 pm

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Oops another innocent victim of fake rallies. Good lesson for people who look for quick profits. My friend, you must have misled by some stupid big stiff I believe. Learn a lesson from this and try to invest don't try to gamble. I'm sure this forum will full of similar posts like what's happening to PAP, BLUE,ECL etc in future.