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Stock : Ingersoll Rand
CMP : 368
If you notice this stock this stock is moving northwards despite the market sentiment.
What might be the reason behind this? Any rumor ? Standalone results are not also
very encouraging.
Standalone Results for the quarter ended on 30-JUN-2008 as follows:
Ingersoll-Rand India April-June net down 89 pct
Net Profit 18.12cr vs 158.9cr
Net Sales 97.09cr vs 118.86cr
Rumor:
Earlier delisting of the Indian unit Ingersoll-Rand India Ltd., a unit of Ingersoll-Rand, have failed as investors were unwilling to part with their shares.
The company has a cash resereve of 580 cr. There is a rumor in the market that the buy back for delisting will be around rs.700. And 86th Annual General Meeting (AGM) of the members of the Company will be held on August 22, 2008.. May be related to delisitng!!!
Watch it from outside because quick profits never make you a real money.
