Weekend Observations 19th Nov 2023

Weekend Observations and Rajesh Exports Analysis

INVESTING

RTI For Money, Lillaney

11/19/20231 min read

83 stocks hit a new 52 week high and 1 stock hit a new 52 week low on Friday.

238 stocks closed near their 52 week high and 41 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 1 company which I see as follows and had written about earlier on the links below:


https://rtiformoney.in/weekend-observations-22nd-oct-2023


Rajesh Exports: Stock has a P/E of less than 10 which is cheap considering historical data. But the reason is that the company reported results which showed sales/revenue dropping by more than 50% and profits by 90%. These kinds of profits were last seen in 2014 and before that in 2009/10. No wonder the stock is at prices which were last seen in 2015. On both occasions the fundamentals improved and so did the stock price. Based on this I have started adding this stock on dips from 440 odd levels and will continue to do so although in very small quantities as a part of my value portfolio to manage the risk.


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


What are your fortnightly observations?

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