Dear Friends
ADSL has been a heart wrenching experience for many of my small investor friends. Today, ADSL management gave a silver lining to the stock by buying the stock above 53.95 providing it a very strong support at 53 as a part of its buy-back offer. 100,000 shares were bought by Anand Rathi and subsequently the stock was picked up by some other big investors resulting in huge delivery volumes.
Keep an eye on the stock and any level between 59 to 61and below is a good entry point if you want to stick to the stock for medium to long term. However, the stock carries medium risk but looks very cheap below 60 especially after re-assurance of the promoters. One can invest in ADSL but not more than 1% as a part of one's portfolio. The fundamentals still remain intact. However, it will be a traders paradise for foreseeable future.
Regards
Invest2Richness - A selfless service for retail investors.
ADSL has been a heart wrenching experience for many of my small investor friends. Today, ADSL management gave a silver lining to the stock by buying the stock above 53.95 providing it a very strong support at 53 as a part of its buy-back offer. 100,000 shares were bought by Anand Rathi and subsequently the stock was picked up by some other big investors resulting in huge delivery volumes.
Keep an eye on the stock and any level between 59 to 61and below is a good entry point if you want to stick to the stock for medium to long term. However, the stock carries medium risk but looks very cheap below 60 especially after re-assurance of the promoters. One can invest in ADSL but not more than 1% as a part of one's portfolio. The fundamentals still remain intact. However, it will be a traders paradise for foreseeable future.
Regards
Invest2Richness - A selfless service for retail investors.
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