IPO was at 3.00, then the highest price achieved at 6.40 but it was many years back.
As par the annual report forecast, year 2014 would be a remarkable turning point of the company- due to rapid developments in constructional sector, SIRA has a massive potential in growth and expansion. It has already secured government projects worth of Rs. 1 billion. Then, net profit margin should at least surpass 100 million. Let’s wait till we read next financial report, quarterly or annually.
75.93% of total shares are with 1st 20 holders (including SIRA Holding – 58.11%, and Browns, EPF…Etc). Probably their price - the cost of IPO might be at 3.00. NOW, SIRA is trading at 2.30, but Net Asset Value (NAV) is 2.68 (trading below NAV). IF such tiny share may achieve 800-900% positive change in net profits as par annual forecast, then…WHAT would be the expected price of this share within a very short time? Can it be expected all time high?
That is WHY some parties are highly interested about SIRA.
This note was just prepared for your technical analysis, and I humbly request your comments please.