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Monday, June 07, 2010

Gujarat Ambuja Exports: Promoters buying from the Open Market June 1,2010



Gujarat Ambuja Exports Limited (GAEL)
CMP: 23.25
Market Cap: 321Cr.
As per SEBI requirements promoter buying into GAEL has been reported to the Stock exchanges.
- Promoters have bought 9480 shares from the BSE (Avg Price: 22.04 per share)
- Promoters have bought 19700 shares from the NSE (Avg Price: 22.04 per share)
These shares were bought in the week of May 21 to May 27. and reported to the stock exchange on June 1,2010.
Promoter Name: Manish Kumar Gupta (Managing Director)
Shares before acquisition: 3,40,64,993 (24.62%)
Shares after acquisition:    3,40,94,173 (24.64)

This 22.04 will act as the low water mark for new and old investor to accumulate more GAEL stocks. Promoters buying into a company is one of the strongest indicators specially when they already own 63.87% of the total equity of the company as of March 2010.

Conclusion: This is one of the best time to accumulate the stock for long term appreciation we can easily expect the stock to give more than 100% appreciation from these levels.

4 comments:

rajsmusings said...

Hi Prahalad,

I have been doing little bit of reading on the net on value investing and found your blog to be very useful. Please keep up the good work. I have done my bit of research on GAEL and want to add it to my portfolio. However in ICICI direct am not able to search the company. It shows me only these 2 companies when i search with keyword gujarat.
GUJARAT AMBUJA COTSPIN LT
GUJARAT AMBUJA PROTEINS L

Can you help me someway to find the company in ICICI direct ?

Regards
Raja

What'sUp Prahalad said...

Raja:

Thank you for your patronage..
Gujarat Ambuja Exports code in ICICIDirect is: "GUJAE"

Welcome aboard and hope we all are there to see GAEL be a multibagger

=happy investing

Muthumani LLC said...

Does buying 30K shares @ 22 odd rupees really mean the promoter is interested? that too, it is just 0.2%... Am just thinking aloud - not to argue.

What'sUp Prahalad said...

Muthumani LLC:

Well promoters have bought close to 4 lakh shares in the year 2009-2011

here is my blog report about the same..
http://whatsup-indianstockideas.blogspot.com/2010/08/promoter-buying-in-gael-aug-102010.html

Also no of shareholders is decreasing.. over a 2 year period which means consolidation is there at HNI level and Individual investor level..

Reliance Growth plan has also added a few lakh shares this year (I think july-sept level..
http://whatsup-indianstockideas.blogspot.com/2010/10/gujarat-ambuja-exports-sept-2010.html

I hope that helps

=happy investing
whatsup-indianstockideas.blogspot.com