Contrarian Investing involves
Buying Fundamentally sound Great Small Cap Mid Cappy penny Stocks when they are neglected by market
During Scan of Indian Stocks we found this great contra pick which has potential to become multibagger in long term as well as medium term
Name of Stock
Resurgere Mines & Minerals India Limited
NSE Code :RESURGERE
BSE OCde : 533017
Price : Rs 69.75
Stock Chart
AS Clearly visible from Charts the stock is heavily oversold
its way below the 200 day moving average and 50 DMA
See the technical indicators
SMA-50: 106.30
SMA-200: 93.90
Now lets See Stock Fundamentals
Sales up nearly 100 percent YOY in june quarter
Net Profit PAT nearly tripled on YOY Basis
EPS For last 12 years 9.94
Which makes PE value nearly 7
And Look who is holding this Gem
Sr. No Name of the shareholder Number of shares
1 India Business Excellence Fund1 910000
2 Merrill Lynch International 3000000
Future Plans :
Acording to DNA News report dated 19 Aug 2010
Resurgere Mines and Minerals India, a Mumbai-based firm that extracts iron ore and sells it to small sponge iron makers in Rourkela district, expects to sign at least four iron-ore leasing deals in Maharashtra in four months.
Since The Stock is available nearly yearly lows .Buy this stock and hold with stop loss as per your risk appetite.This gem is truely a multibagger
Source from;http://nse2rich.com/top-contra-pick-bse-nse-sept-2010-indian-share-resurgere-mines-minerals-india-limited/
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