The stock is Marico Kaya Enterprises.
The stock from levels of 270 on August 08 2014 has run up to 505 on August 22 2014. The reason: The promoters aggressively buying the stock in open market.
Here's the Chart
What should one do now?
Promoter buying the stock in Open market is a very bullish thing. One should add the stock on opportunity screen and buy on any panic situation in market. Even after such a steep run up, the market cap of the stock is just Rs. 600 crores (low if you compare to market opportunity). The company runs skin clinics in India with practically no branded competition. The stock post such a steep run up will be on radar of many institutions and it looks the start of a big run and not the end of the run. The stock is buy on every dip. Having said that - Please do your own due diligence and study before making a jump.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers