Sharda Motors, Weekly - This slow coach which went nowhere for few months has finally woken up. It continues to remain very cheap with 650 Cr cash on the books. There’s a buyback which is announced. I would expect dividend payout to be healthy as well along with the buyback and they are on the lookout for an acquisition as well. All this alongside growth driven by volumes and value in the exhaust business. While most businesses are busy doing dilutions, here’s one doing buybacks. Considering the cheapness of the stock, this is perfect use of the capital. It deserves to trade much higher
Sharda Motors
CMP 1583
We’re big fan of @phreakv6 . Tried to do wave count on Sharda Motors as he has posted about it few months back.
Here is the long term chart , Keep in consideration that monthly charts take months to play out.
Disclaimer : Views are personal. No buy/sell recommendations. The projection is based on our technical -probability study methods and chances of success/failure depend upon various factors.
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