
No great news to write home about. It just another case of operator driven hi-flier. Prior to this rally, the average volumes of the stock were 6 lakh shares, whereas in the couple of days the volumes are more than 1 cr shares. The delivery volumes were meagre 3 lakh shares, which confirms the high speculative activity going around.
Though the fundamentals of Everonn seems reasonable, reporting an annualised EPS of Rs.20, with a P/E ratio of 7 times, the stock has gone up sharply warrants a caution. Probably it is running along with Educomp, also up 40% in just a few days.
Another hi flier, Akruti City , up from Rs.810 to Rs. 1600, in just couple of weeks.The stock hit a year-low Rs.600 in Jan 2009. When all other realty stocks are hitting year lows, Akruti seems to be trading in a different universe. The stock has hit a year-high of 1600. The momentum could take up a few hundred rupees more.
Fundamentals of Akruti are terrible. The company has reported a quarterly EPS of just Rs.3, on an annualized works out to Rs.12. The current P/E of that stock at CMP of Rs.1600 is staggering 130 times.
So what is SEBI doing? Yes ! you know .No prizes for guessing !
Buyer beware !