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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » MAL - Does technical analysis say anything?

MAL - Does technical analysis say anything?

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retailinvest


Stock Analytic
Stock Analytic
This is my first post and its not to promote this share.(I am holding MAL for a long time averaged at 11.2 and I know I cant make it go upto that price through a post here) I just need to clarify whether there is something going on. Just noticed that Today's volume of 3.18 million is the highest for the last 10 years (can even be for the history of the company) and there were no crossings.

We all know that it is undervalued even after allowing for the plantation wage hike. I am interested to know how MAL stand in terms of technical analysis.

rm

rm
Senior Equity Analytic
Senior Equity Analytic
Your post is little bit later.
You could average MAL when it was trading at 6.70-7.00 range.
11.20 is little bit high price. But MAL is doing well. Their financial report also good.
Now it starts a rally. when this rally turn to down trend you sell your shares and collect again lower price. don't keep it until it reaches to your price.

zen

zen
Manager - Equity Analytics
Manager - Equity Analytics
I bought this share some 3 or 4 days ago at 6.50 purely on a technical analysis hoping to keep it as a long term imvestment. But I was looking at the market when it suddenly skyrocketed. It was about 10a.m. and there were only about 30 trades in that day. Suddenly it started going up like mad, about one transaction per second and soon it went up by 16%.
So I sold it there at 7.90 because no share, no matter how good it is, wouldn't go up to the stars. If it goes down below 7 I would like to buy it again. Don't worry not before long this share was over 100. There must be many people who hold this above 100. Do you think it will go to that level again?

retailinvest


Stock Analytic
Stock Analytic
yea rm i felt bad when i saw it at 8.2 caz i could have easily got out had i averaged below 7. Yea their financials are good but the management seems to be bit of a worry. the recent rights issues was also voted against by the shareholders.

@zen : there was a subdivision of 1 to 10. So actually the all time high is Rs 12.7 (Rs 127 before subdivision)

Bdw do you guys have any idea about the TA status of MAL? I m still learning TA so dont have a clue yet.

Thanks for your replies

zen

zen
Manager - Equity Analytics
Manager - Equity Analytics
It was 8.2 only for a few seconds so don't worry. What's TA? You could average it even now when the rally is still going.

retailinvest


Stock Analytic
Stock Analytic
I meant Technical Analysis

zen

zen
Manager - Equity Analytics
Manager - Equity Analytics
Support and resistance level analysis should give you a clear picture of the price movements easily.

ABEST


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
financial year 31/12/20**

Earning per share ------- 1.18----------30.06.2011 six months
Net asset ------------------8.27------------30.06.2011 six months

Highest price-----voting>>>>> 10.50 --- 30/06
---------------------not voting>> 10.20---30.06

Lowest price-----voting--------------7.90---30.06
---------------------non voting--------8.20---30/06

* Sector-----------Plantations
* Established
----------------- 1992



major turnovers from
Tea
Rubber
Coconut
Tea export

wayamba plantation private limited has 139 million shares(V)
public hold 32 percentage

lanka mountcastle private limited has 17 million shares(N.V)
public holding 25 percentage

Malwatte Valley Plantations PLC engages in the cultivation, manufacture, and sale of black tea, rubber, coconut, and other crops in Sri Lanka. It is cultivating and processing tea and rubber through 20 tea estates and 6 rubber estates located in the planting region of Bandarawela, Badulla, and Avissawella. The company was founded in 1992 and is based in Colombo, Sri Lanka. Malwatte Valley Plantations PLC is a subsidiary of Wayamba Plantations (Pvt) Ltd.

Malwatte Valley Plantations PLC reported earnings results for the second quarter and six months ended June 30, 2011. For the quarter, the company reported turnover of LKR 874,026,000 against LKR 971,392,000, profit before taxation of LKR 92,847,000 against LKR 175,995,000 and profit of LKR 92,611,000 against LKR 175,995,000 for the same quarter last year. For the six months, the company reported turnover of LKR 1,748,357,000 against LKR 1,726,149,000, profit before taxation of LKR 291,727,000 against LKR 295,850,000, profit of LKR 291,490,000 or LKR 1.18 per share against LKR 295,850,000 or LKR 1.19 per share, net cash from operating activities of LKR 113,786,000 against LKR 44,091,000, purchase of property, plant & equipment was LKR 92,872,000 against LKR 8,545,000 and net assets per share of LKR 8.27 compared to LKR 6.75 per share for the same period last year.

**************Malwatte Valley Plantations PLC expected to report Q3 2011 results on October 27, 2011
*
*
*
Now they issue rights ------------- XR: - 30-Aug-2011

RIGHTS ISSUES DATES AMENDED (Voting & Non - voting)

09 August 2011

VOTING

Date of Announcement: - 14-Jun-2011
Proportion: - Two (02) voting shares for every ten (10) voting shares held
Two (02) Non-voting shares for every ten (10) voting shares held
Issue Price: - Rs.6.75/-
Qty Offered: - 49,518,032
General Meeting & Provisional Allotment: - 29-Aug-2011
XR: - 30-Aug-2011
Dispatch of Provisional Letter of Allotment: - 06-Sep-2011
Rights Trading Commences on:-12-Sep-2011
Renunciation: - 19-Sep-2011
Last Date of Acceptance & Payment: - 20-Sep-2011


NON-VOTING

Date of Announcement: - 14-Jun-2011
Proportion: - Two (02) Non-voting shares for every ten (10) Non-voting shares held
Two (02) voting shares for every ten (10) Non-voting shares held
Issue Price: - Rs.5.50/-
Qty Offered: - 49,518,032
General Meeting & Provisional Allotment: - 29-Aug-2011
XR: - 30-Aug-2011
Dispatch of Provisional Letter of Allotment: - 06-Sep-2011
Rights Trading Commences on: - 12-Sep-2011
Renunciation: - 19-Sep-2011
Last Date of Acceptance & Payment: - 20-Sep-2011

it will give good return one or two years later
not recommended to buy sell or hold

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hey, averaging a share in downtrend is one of the worst things you can do. This is what experts in the trade say. BTW I also own 7000 of this.

Auther

Auther
Senior Equity Analytic
Senior Equity Analytic
@ABEST wrote:

Dispatch of Provisional Letter of Allotment: - 06-Sep-2011


Has anyone got that letter..?

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