Home > Market View > Buy or Sell – GMR Infrastructure

Buy or Sell – GMR Infrastructure

Sunday, August 2, 2009 Leave a comment Go to comments

GMR Infrastructure declared results over the weekend and the profits were down 70% YoY. The story is similar to that of Suzlon where interest costs are taking their toll on the net profits.The outlook doesn’t look good in the short to medium term.

Technically, the stock might take a good beating below 135.  The stock doesn’t inspire much confidence as of now.  160-165 is a tough resistance to cross. For countertrend traders, 115-120 might be a good entry point for any bounce.

Advertisements
  1. No comments yet.
  1. Friday, August 7, 2009 at 11:23 pm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: