Stock of the Day – Finolex Pipe

Yesterday, I had written about the Cup pattern we were seeing in MindTree (Link). A similar pattern can be found in Finolex Pipe as well. While the stock has participated in both the 2003 and the 2009 / 2010 rallies, the returns were not too great since there has always been a concern on the quality of management. It now seems that the company has seen a re-rating as it has been a strong performer 2013 and seems set for continuation in the current year.

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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