Saturday, April 10, 2010

Archies - trading pick -on Intrasoft 123greetings.com IPO(Videocon Bulk buyer)

This is with reference to recent trading call given on Archies vs Intrasoft 123greetings.com IPO ( PE of 30 vs Archies PE of 6). Latest update is change public shareholding pattern - Dome Bell Electronics Pvt. Ltd. ( belonging to the Videocon Promoter Group) sold its 3 lac shares at 95 to Videocon Industries. Transaction value of Rs. 2.9 crores. Dome Bell seems exited its investment at a loss ( most likely entered at 160 - similar to price at which Times of India Group Bennet and Colemann entry price and still holding). Not sure reason of this transaction. But this will sure attract traders and markets attention to Archies as now Videocon has entered at 95. Intrasoft / 123greetings.com also to list on 12th Apr 2010.

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