Hindustan Organic (HOCL)
HOCL is 14% up today at Rs. 60.65. It is almost at its 12 months High of Rs. 63.60.(made in feb 2007) It has risen about 23% in last 1 week. The stock used to be in T2T category but now the circuit limit is 20%. Today the vol. was also extraordinary (3.6 Million compared to last 2 week averages of 700 K). The volume has been consistently increasing in this scrip over time.. Maybe it would be interesting if KKPji can have a look at this scrip from TA perspective..
The Qtrly results have not been great except a EPS of 5 in the qtr ended March 2007. But it is turning around and has a huge (leased)land holding near Panvel. Ramesh Damani has recommended this stock long time back and is bullish on it and considers it a value buy. Time and again there is a rumour of land lease but there is never a confirmation.
Two reasons I hold this stock now for more than 2 years are: 1) This is one of the public sector companies with a huge turnaround potential.(maybe last of the PSU bargains) 2) The huge land asset gives a good margin of safety.
