FY17/18 PAT -33 mn (loss)
PBV 6.30 (against a sector PBV of .98)
ROE -7.30 ( against a sector ROE of >10)
PER -88 x (against a sector PER of 5.75)
RSI 77 ( highly over bought)
CMF only .15 after years in negative territory and even after a 600% price gain
OBV not following price move but diverging , now nose diving.
Rights ratio 3 for 5 . and that is approx 40% delusion.
Current YOY average volume with a 600% upward price move almost equal to previous YOY average volume with near 0% price move. This is a clear indication the 600% price move during last 12 months was almost totally in-breeding and no new cashflow has come in as indicated by poor CMF reading.
Unless the company has a mother load of gold stashed off-balance sheet or some politician/s is/are trying to launder their looted money , their is no indication this bullish sentiment is genuine.
This company is in deep water looking for a life jacket. Pls see if there is any announcements indicating directors buying which I doubt. May be some investor is trying to buy this entity for it's licence. . My forecast is a price around 35/= after X-rights date and 12/= to 15/= by 3 months after . If you realy want to invest in this sector at this point in time , why don't you look at COCR. In any case ASI/S&P will only start to move when the CBSL will either shrink the Policy rate corridor further or loosen monetary policy by reducing AWPLR .Newtons laws of Motion is some what applicable to capital markets as well when big moves are made . When price moves are microscopic , then Schrodinger's wave function and Heisenberg's uncertainty principle are more likely to apply in an abstract form at least . This advice given without prejudice. Use your value judgment and make your move.
If you ask me , I would rather extract my prostrate gland with a fork than buy this stock.
Remember , if something is too good to be true it usually is.
Even with all this crap, I could be proven wrong as past performance is not a guarantee of future performance.
Good luck with your investing.