Technical Analysis of Indian Equities by Nooresh

Cals Refineries Limited – A Multi-Beggar ??

As there is sluggish movement in the index this gives me time to write on various topics going around in our market.

Although i need not give an introduction to what the stock is as it is one of the most discussed stocksTongue out

Of late i have stopped getting queries on this stock as the stock is down 50% from the price of 0.60-0.7 paise when it was dumped to people as a stock which would grow 5-10-20 times etc.

Let us look into the stock movement which will give a good idea about the way stock is generally dumped to the dumb retail Investor.

I havent done an exact research but its something like a dud listed company taken over taken from 5-10 paise ( adjusted for split ) to 12 rs and dumped with help of GDR issue then split announcement for hope.

Again float the same story at 0.60-0.70!!. Now will the stock back to the dud value of 0.10 ?


Certain questions which hit my mind is why GDR issue? The project is supposed to be thousands of crores then why is the market cap at less then 250 crores.

Is it the recession which duped the company or company duped others in the bull market…. Time would tell.

But what hits me is that people like to buy a 30-50 paise company in hopes of it turning a multibagger and end up losing 50-70%. Guess what many brokers charge 5 paise brokerage which means 15% is the cost of trading the stock !!! Whoa sitting on a notional loss of 15% right away is sic:)

Yet Again bottomline is there are better places to invest your hard earned money and if you want to gamble then go to a casino at least you will get some entertainment 🙂 Will update more when i do more research.

Article by Nooresh Merani

Nooresh has written 2801 articles.

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{ 15 comments… add one }
  • kunal gosar May 25, 2010, 03:13


    • nooresh May 25, 2010, 13:43

      Hi Kunal,

      There are many spammers who are now coming on the blog.


      • kunal gosar May 26, 2010, 04:19

        i tght it ws one of ur colleague or new development or something but ws courious to knw

        ne way thnx for informing

  • Asawari I. May 25, 2010, 07:27

    Investors get attracted and trapped in such stocks. But then there are stocks like JCT Electricals or Birla Power which belong to big groups like Thaper Group and Birla Group, still trading below Rs.3/-. Can these be bought by retail investors? Can you pls throw light on these, if it is possible to you?

    • nooresh May 25, 2010, 13:43

      Hi Asawari,
      I consider markets are always supreme and pricing is generally not wrong. Birla Power belongs to Yash Birla group for which the management concerns have always been there. Selecting a stock is on different options available.



  • Neenakapoor May 25, 2010, 11:55

    Hi Nooresh,

    Kindly help me as i am holding IDBI and Areva in futures at a higher level.I took them as a trading calls but did not keep any stoploss.Should i book losses or roll them over ?

    • nooresh May 25, 2010, 13:42

      Hi Neena,

      IDBI and Areva now u need to rollover. Now all stock holding the stoploss is 15900/15600 on closing/intra basis.



  • periasamy.t June 5, 2010, 18:26

    holding resugere mines at higher price.shall i hold or book loss

    periasamy t

    • nooresh June 8, 2010, 15:35

      Hi ,

      I dont track the stock.

  • VIJAYA March 29, 2011, 11:04

    hi i am holding fluidomat what to do shall i hold or see

    please explain

    • nooresh March 29, 2011, 23:25

      Hi Vijaya,

      Its an avoidable stock.

  • manmohan sharma September 22, 2011, 17:30

    Cals Ref.

    ke ab kya hoga??

    plz tell me

    • nooresh September 26, 2011, 10:30

      Hi manmohan,

      If u have sell it and stop worrying

  • ravinder kumar September 24, 2011, 21:34

    hi sir,

    i am holding the nifty fut.oct. at 5058 what to do shall i hold or wait ?

    • nooresh September 26, 2011, 10:21

      Hi Ravinder,

      Please follow stoplosses when trading. For now the trend is weak but looking at VIX we would like to buy on sharp declines slowly.


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