No no, I am not telling about Manappuram. Told that statement because it happens in outside world and I am/was aware of few which can’t disclose. The reference was to just convey core message regarding Ambika
Just curious why there is no mutual fund holding in this share.
Is there a certain market cap below which even small and micro cap funds would not buy a stock. Or is there some other reason
IDFC Mutual fund was invested in this… However, either they have completely splf off or have reduced their holding…
Anybody has any idea why this stock locked in 20% upper circuit today? I don’t see any news floating around.
Possibility of buyback coming or capex approval or some MF entry. Let’s see. No news in public yet it seems.
Maybe land use permissions - which have been pending for some time - are looking more visible.
Maybe a technical breakout. Looks like a flag breeakout.
Disclosure: invested from 2 years. sold some today as it has become highest percentage of my folio.chart is for study purpose not a buy/sell/hold call
No bulk deal reported. The mystery continues
I could be wrong but sometimes when there is no publicly available answer, I have seen paid stock recommendation services recommending stocks and the stocks surging within minutes of the recommendation. This might have happened here as well because most investors rush to buy the stock, throwing the upper purchase price limit to the wind.
We will know in the days to come. If the price drops tomorrow and there are no further clues on the price spike, this might be a possible answer.
Ambika has given up all the gains of last month.Any one tracking closely has any updates.
Came across this news as per which Tamil Nadu mills are importing cotton from Africa to reduce pricing pressure. - https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/rising-cotton-rates-spook-tamil-nadu-textile-companies/articleshow/62535254.cms
These mills also in recent past have started getting cotton from Gujarat. But this time, Gujarat production has also been impacted due to GST and crop related issues - https://www.bloombergquint.com/union-budget-2018/2018/01/24/mills-running-at-half-the-capacity-in-indias-cotton-hub
@vivek_mashrani - How has Ambika managed to deal with higher cotton prices in the past? They seem to be insulated from the vagaries of cotton prices, though the product they manufacture is more or less commodity. What do they do to preserve their margins?
Good results from Ambika Cotton.
They have expanded capacity and would be finishing the complete expansion this quarter.
Did you look at revising your estimates. as your assumptions were based on increasing knitting capacity to 24k kg, but as of dec 2017 result disclosure, company is in process of increasing capacity of 30,000 kg per day. thats additional 25% capacity.
any update on spinning capacity expansion clearance?
results are out
no mention of approval for additional spinning capacity.
As usual consistent results where industry is suffering with poor results. However, in BS, I see inventpey going up from 150 cr to 240 cr. Thats something interesting ? Also, NFA increased n stabilizing cwip yoy highlighting expansion completion
This expansion is un knitting facility and not in spinning. Is that correct?
Yes, my capex comments were on knitting facility
why is their employee cost higher by 28% YoY when spinning expansion has not happened and knitting expansion shall ideally not require so much additional manpower?