innam wrote:
You have picked a nice portion of the review but the part before gives a clearer picture
"In my previous year’s review I drew attention to the
declining sales of the D-Size batteries on account
of the increasing popular usage of energy saving
lighting equipment. This trend continued and is
evident during the current year too."
Basically they are in a dieing business, given that they belong to a group in the rights manufacturing sector sheholders should pray that they sell the company rather than going for another rights issue. Who knows with this manaement team, they turned a road construction firm (LDEV) into a tea plantation so they may turn a battery manufacturer (LITE) into a hotel.
Innam,Thanks to pointing out current scenario, this should be the reason to go for diversification or starting up new products, So in near future we can hear corporate actions from the company. Basically this rumor pushed up the share price, if u analyze the recent trend, out of 39Mn shares 16Mn shares were trade in two days @ average price of Rs.13. So there should be some interesting things.
will wait and see
See the last trading trend...
8/3/2011 47,600 22 11.5 11.5 11 11.1 -0.4 -3.48 2.18
8/4/2011 94,200 35 11.1 11.7 11 11.1 - - 2.18
8/8/2011 291,100 60 11 11.4 10.8 11.3 0.3 2.73 2.19
8/9/2011 30,200 12 11.3 11.3 10.7 11.2 -0.1 -0.88 2.19
8/10/2011 8,074,900 1,332 11.2 14.3 11.2 13.5 2.3 20.54 2.37
8/11/2011 8,097,100 1,559 13.5 14.9 12.1 13.6 0.1 0.74 3.228/12/2011 948,800 305 13.6 14.2 12.5 12.9 -0.7 -5.15 3.17
8/15/2011 1,382,100 418 12.9 14.1 13 13.5 0.6 4.65 3.22
8/16/2011 1,274,800 317 13.5 14 13.1 13.9 0.4 2.96 3.25
8/17/2011 717,000 218 13.9 14.1 12.7 13 -0.9 -6.47 3.18
8/18/2011 511,500 189 13 13.7 13 13.2 0.2 1.54 3.19
8/19/2011 337,100 112 13.2 13.6 12.9 13 -0.2 -1.52 3.18
8/22/2011 122,800 59 13 13.3 12.8 12.8 -0.2 -1.54 3.16
8/23/2011 546,400 152 12.8 13 12.1 12.6 -0.2 -1.56 3.14
8/24/2011 298,400 97 12.6 12.5 11.9 12.2 -0.4 -3.17 3.11
8/25/2011 322,700 83 12.2 12.6 12 12 -0.2 -1.64 3.1
8/26/2011 339,300 81 12 12.3 11.9 12 - - 3.1