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Sri Lanka Equity Forum » Stock Market Talk » MGT - Too much panic selling; Good base to enter

MGT - Too much panic selling; Good base to enter

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prasa2004


Manager - Equity Analytics
Manager - Equity Analytics
MGT did not product good Qtr and was hammered and brought to knees from 18 to 16.6. If closely analyse the results are flat QoQ (NP -220,047 down to 206,568) though YoY dropped by 72%. NAV is same 12.5 and not deteriorated. A/R published in June states some key positives

''Top Brands have recognized the Company as its sole vendor in Sri Lanka for Polyester and Cotton/Poly blends''.

''Depreciation of the Rupee in 2015 is expected to facilitate the competitiveness of the country’s apparel sector which will be boosted by GSP+ concessions for which negotiations are still underway''.

As LKR is now 150s and GSP hopefully by next year, considering 30 rs diff with the leader TJL (@46) and NAV may be now closer to MP, in my belief this price is best to enter or average if holding.

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