Buying has resumed in Axis IT&T today with disclosed buyer present on
BSE at the the upper circuit of 30.9 even when markets were down by
125 points intraday. This is evidence of a clear genuine strong-hand
buying as weak hands have exited the counter in the correction
witnessed from 36.15 till 29.45. Hence, upward journey in this counter
has restarted from today and it will either stabilise the company's
share price at current high levels or will take the share price to the
next higher level of Rs. 45-50.
Rgds.
Mahesh
-------------
On Sep 17, 2:19 pm, mahesh <equityanalystinves...@gmail.com> wrote:
> I will not say this offloading but it can be best described as a
> shrewd buying as if you have noted the trend in the share price of
> AxisIT&Tthen on 15th September it touched an upper circuit of 36.15
> on BSE after hitting lower circuit of 32.75 even in a weak market with
> record volumes of 2,47,663 shares. If you had observed that day then
> in the last moments before market close the buyer bought all the
> shares that were available till upper circuit of 36.15 and at close
> there were outstanding buyers at 36.15 of 3879 shares. However,
> because of price adjustment due to late buying on BSE the average
> closing price came at 36.05.
>
> It is worthwhile to note here that 15th September was a day when there
> were extreme negative cues and AxisIT&Tshare sustained such negative
> cues too which reflected genuine strong hand buying. Now, after that
> it was but obvious for buyers to adopt a soft approach towards buying
> thereby taking advantage of weak market conditions and buy the
> required quantity silently at lower rate so that buying average can be
> reduced. Even I stopped putting my buy orders after the rate of Rs.
> 27.10 was reached as there was no point chasing the share and instead
> decided to wait to see where the trend of upper circuits stop and buy
> at subsequent lower circuits evenif it meant buying at a higher rate.
>
> This soft approach is adopted because there are not too many shares
> floating in the market of AxisIT&Tas 61 % is officialy cornered by
> Rajeev Chandrashekhar group, 5% is unofficialy cornered by
> Chandrashekhar group via his associates, 6 % is held by Rohit Chand
> (i.e. CEO) and 4% is held by JM Financial. Hence, 76 % equity of AxisIT&Tis not available to buyers and all the buyers have to corner the
> shares out of available 24 % equity which translates into roughly 45
> lakh shares.
>
> Even If we count the price of Rs. 40 then the value of 45 lakh shares
> works out to only Rs. 18 cr. which is a very small amount. Hence,
> evenif a strong investor comes with a pocket of Rs. 2-3 cr. it
> translates into a 10-15 % of freely available shares and so the price
> because of such buying can shoot up by 40-50 %. Therefore, the
> decision by buyers to adopt a soft approach towards buying after a run-
> up in the share price to the extent of 80 % - starting from 20 till 36
> - is a shrewd move and the buying will resume soon.
>
> The story of this company is so strong that one day you will see its
> share price hitting upper circuit within moments of the share
> available at lower circuit without giving anybody the opportunity to
> buy. In short, it will decept one day and that day should come when
> everybody feels that buying has ended as it is actualy that day when
> selling is maximum and buyer can get maximum quantity.
>
> To conclude, while investing in companies with unlimited potential one
> should only take a fundamental approach and should determine the rate
> till which he/she wants to buy and should buy till that level the
> required quantity and hold on till the target is reached. One should
> not get influenced by market conditions as such shares will hit lower
> circuit one day and will hit upper circuit at the close of the same
> day.
>
> The factors because of which AxisIT&Tis a great buy are intact and I
> still stick to my analysis that it will hit Rs. 75 mark once the
> blueprint for its future is ready by November 2008. I will resume my
> buying at 30-31 mark which should happen tommorow and will be a buyer
> at every lower circuit after that.
>
> Rgds.
> Mahesh
>
> On Sep 17, 12:04 pm, Gudipudi <gudip...@gmail.com> wrote:
>
>
>
> > Why today Axis has hit lower ctc, it was in upper ctc till yesterday .....
> > Looks like some one is offloading the stock .....
>
> > Sr. please comment or share any info if we know who is offloading.
>
> > On Tue, Sep 16, 2008 at 1:58 PM, mahesh <equityanalystinves...@gmail.com>wrote:
>
> > > Hi All,
>
> > > Received Annual Report of AxisIT&Tyesterday. Key takeaways :
>
> > > (1) The company has projected 9 cr. revenue on standalone basis in
> > > current FY09 which translates into a revenue of Rs. 40-45 cr. on a
> > > consolidated basis for the company.
>
> > > (2) They have projected that Consolidated financials will turn
> > > profitable on net level in FY09 which is the current FY and Standalone
> > > financials will become profitable on EBIDTA level in FY09.
>
> > > (3) The takeover by Rajeev Chandrashekhar group is clearly mentioned
> > > as also the resignation of Ajay Shankar and him becoming director of
> > > EDC, chennai - the Engineering Services divion of Caterpillar.
>
> > > (4) The fact that Rajeev Chandrashekhar group has assured financial
> > > support for aggresive marketing strategy of the company in forthcoming
> > > years as also expansion of the wholy owned subsidiaries of US and UK
> > > is mentioned.
>
> > > (5) In the Annual Report it is stated that takeover of AxisIT&Tby
> > > Rajeev Chandrashekhar group is part of the long term goal of the
> > > Chandrashekhar group to build a powerful franchise of Aerospace,
> > > Engineering & Communications related businesses closely aligned to one
> > > another to become the first choice partners to Aerospace and
> > > Engineering Majors worldwide.
>
> > > Looking forward for the future-direction in forthcoming AGM of the
> > > company scheduled to be held on 18th September 2008 i.e., day after
> > > tomorrow.
>
> > > Rgds.
> > > Mahesh
> > > ----------
> > > On Sep 11, 11:20 am, mahesh <equityanalystinves...@gmail.com> wrote:
> > > > Current uptrend in share price of AxisIT&Tis because of a big order
> > > > from Marshall Aerospace - part of which will be diverted to AxisIT&T.
> > > > To speak in detail, Jupiter Strategic Technologies, the parent company
> > > > of Tayana Software which acquired 61% stake in AxisIT&T. has entered
> > > > into a tie-up with UK's Marshall Aerospace Ltd. to supply aviation
> > > > lifecycle support services and homeland security technology services.
> > > > Part of the Aviation lifecycle support services order will be diverted
> > > > to AxisIT&Twhich will be hugely positive for the financials of Axis.
>
> > > > Also, Ajay Shankar who resigned from AxisIT&Tbecause of takeover by
> > > > Rajeev Chandrashekhar has moved on to be a Director of EDC-
> > > > Engineering Services division of Caterpillar in chennai and Axis has
> > > > reportedly opened a office in chennai for grabing some big orders from
> > > > Caterpillar's chennai division. Ajay Shankar's proximity to Rohit
> > > > Chand as also his past-key-role with Axis is making Ajay comfortable
> > > > in diverting Caterpillar's orders to AxisIT&Tand this is the main
> > > > reason why Mr. Chand is retained as President and CEO of AxisIT&T
> > > > evenafter takeover by Chandrashekhar. New Management don't want to
> > > > loose out on Caterpillar's mega orders and so they have opened a
> > > > separate office in chennai for Caterpillar's deal. Ajay's proximity to
> > > > Caterpillar's top honchos as well as Rohit Chand is very well known in
> > > > industrial circles.
>
> > > > Hence, all these factors make this company, viz., AxisIT&Ta bargain
> > > > buy at the current levels and this is the reason why you see it
> > > > hitting upper circuit even in current uncertain market. Insiders and
> > > > HNIs have decided to buy it till Rs. 48 after which it will stabilise
> > > > and after a gap will move on to the next higher level.
>
> > > > Rgds.
> > > > Mahesh
>
> > --
> > Venkata Prakash Gudipudi
> > gudip...@gmail.com- Hide quoted text -
>
> > - Show quoted text -- Hide quoted text -
>
> - Show quoted text -
--~--~---------~--~----~------------~-------~--~----~
Feedback for the group.
http://spreadsheets.google.com/ccc?key=pMGSuXcWB0fTc5dPBUEvKcw&hl=en
Live Market News www.LiveNewsUpdater.blogspot.com
EagleEyeTrade Group http://groups.google.com/group/EagleEyeTrade
Association of Indian Individual Investor www.groups.google.com/group/Aiii
-~----------~----~----~----~------~----~------~--~---
No comments:
Post a Comment