Prabhat Dairy mocks investors by delisting share, AC business may get a boost; all this and more on Moneycontrol Pro

  • Prabhat Dairy's this move was on expected lines as the company in a slump had sold 98% of its business

  • The tropical climate and low penetration of air conditioners is expected to boost demand as incomes increase

  • Higher capacity utilisation, automation of foundry, aluminium foundry and outsourcing are growth drivers

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Prabhat Dairy mocks investors by delisting its share at nearly half the IPO price

Prabhat Dairy has proposed a voluntary delisting of shares. This move was on expected lines as the company in a slump had sold 98 percent of its business. What has come as a surprise is the pricing at which the promoters of Prabhat Dairy expect the shareholders to submit their shares. Delisting of shares of Prabhat Dairy has been announced at Rs 63.77 a share which is at a discount to Rs 79.30, the price at which the company’s shares were changing hands a day before the announcement. Announcing a delisting at a discount to the market price is rare in Indian markets. What does this mean? Click here to read more.

 Prabhat Dairy mocks investors by delisting share, AC business may get a boost; all this and more on Moneycontrol Pro

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Ideas for Profit: Why this AC company should not be overlooked

RAC (room air conditioning) and HVAC (heating, ventilation and air conditioning) are promising growth industries in India. The tropical climate and low penetration of air conditioners is expected to boost demand as incomes increase. Our stock pick for the day is one of the largest players on this segment. It has excellent brand recall, superior return ratios and vast geographical presence. The catch? It is valued at 29 times FY21 expected earnings. Which is this company and what should investors do? Click here to read more.

Don’t ignore this high-quality foundry company

Our second stock pick of the day is a company that makes foundry machinery and parts. Higher capacity utilisation, automation of foundry, aluminium foundry and outsourcing are growth drivers. The company has also reported a steady financial performance over a long period. On the other hand, its fortunes are linked to the industrial and automotive sector’s growth. And the auto sector is not doing well. So what moat does this company have? Why should investors consider this stock? Click here to read more.

Picks from our technical analysts

1. Coal India: This stock has taken support near Rs 182 and made a bullish anchor column on point and figure chart. A bullish anchor column indicates strong bullish momentum. Click here to know how to trade its futures.

2. Just Dial: Price action in Just Dial shows a breakout of a three-bar sideways action in an ongoing uptrend. This is a short term breakout of a flag pattern. Click here to know how to trade its futures.

Updated Date: Sep 17, 2019 13:06:41 IST