I was looking at the stock price movements in two periods. One from 22nd Aug 2007 to 08th Jan 2008. Two from 09th Aug 2008 to 23rd Jan 2008. The first period saw a stupendous rise for the stocks and the later period has seen an equally stupendous fall. I was trying to figure out if there were stocks that were resilent during this period. The stocks which gained in both period will be an obvious choice. Stocks like Amara Raja, Akruti City, Bank of India, Welspun Gujarat and Essar Shipping fall in this category. Just to give the figures, Amara Raja was up 72% in first period and 16% in second period. Akruti stood at 146% and 10%, Bank of India saw 68% and 10%, Welspun Gujarat gained 114% and 4% and Essar Shipping risen 404% and 4%.
There is another category of stocks that have seen huge upward movement but have fall less which indicates that they are with strong hands. Take the case of banking stocks like Indian Bank, Axis Bank, Bank of Baroda and SBI that have gained over 50% in first period but have fallen less than 6% in second period. Some favourite stocks like Indiabulls Financial, Everonn, Shriram Transport Finance, Jain Irrigation, Pidilite, Simplex Infra and Sadbhav Engineering have gone up anywhere between 40 to 170% in first period and fallen less than 7% during the market free fall.
Thursday, January 24, 2008
Stocks held by stronger hands
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