Source: Nooresh Merani
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Category: Satta Stocks
Sri Adhikari Brothers Television Network Ltd (SABTN) has been an outperformer in the Indian stock exchanges , gaining over a whopping 73% in the last one year (July 25, 2011-July 24, 2012)
What is interesting about this stock is as follows:
1.The EPS for 2012 is a paltry 0.71, giving a P/E of around 136.4 for this stock
2.The promoters have pledged over 86.11% of their holdings – a huge negative
3.Their debt is high relative to its equity, its interest coverage ratio is less than 2
Though I confess I have never watched any of their channels, SAB stock seems more fun to watch than their serials !
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The “Satta” Stock
Nagarjuna Oil is part of the Nagarjuna group and has set up a 6 Million Tonne Refinery in Tamil Nadu.
This refinery was supposed to be commissioned in March 2012 but has been delayed.
Now, the funny thing is that the financials of this company are not available on the NSE website nor on the BSE web site nor on the company’s own website.
The only thing we know is that around 42.81 Crores shares are outstanding which gives it a market cap of around 325 Crores.
Despite the lack of details or perhaps because of the lack of details, this stock is up around 37% today.
In many ways, the stock reminds me of RNRL. It has all the ingredients for being- in Dalal Street terms-a “satta” (aka punting/gambling) stock:
1.A low price (around 7.55) allowing even the smallest of punters a chance to speculate
2.Potential of huge profits for the company
3.Impending news (In this case, the commissioning of the refinery)
4.Well known and politically connected promoters
Off to the races then !