Fortnightly Observations 12th Nov 2023

Fortnightly Observations. Stock analysis of Petronet LNG.


RTI for Money, Lillaney

11/12/20231 min read

84 stocks hit a new 52 week high and 3 stocks hit a new 52 week low on Friday.

168 stocks closed near their 52 week high and 45 stocks closed near their 52 week low.

From the above it seems that the market is in a bullish mood and ignoring the worries related to war, increasing US debt, etc. This could also be because the markets believe that the Fed hike cycle is near its end and the Fed is likely to start lowering rates from May 2024 which is just 6 months away.

The 52 week low list had 3 companies which I see as follows:

Petronet LNG: P/E of less than 8.5 which is around a 5 year low. Price is at almost a 1.75 year low of around 190.25 which was last seen in Feb 2022. Could be a candidate for buy on dips for those with a 2-3 year view.

Adani Wilmar: P/E of around 300 which is very high. I will avoid it.

Campus Activewear: P/E of around 70 which is very high considering the latest results and the performance of the past year. Price is at its lowest point since listing in May 2022. I will avoid it.

Please consult your financial advisor before investing. The above are just my views.

What are your fortnightly observations?

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