BCL Industries: Porinju Veliyath Latest Stock Pick

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Pee Vee
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BCL Industries: Porinju Veliyath Latest Stock Pick

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BCL Industries is the latest stock pick of Porinju Veliyath. He bought 2 lakh shares on Monday 20th November 2017.

BCL Industries & Infrastructure is an integrated Industry player with businesses in key Industry verticals including vegetable oil refining (physical and chemical), solvent extraction, oil extraction, distillery-ethanol industry, real estate and rice sheller.

BCL Industries is one of the largest vertically integrated agro-based edible oil player in India, with a gross annual turnover of more than Rs. 650 crore and a total management experience of nearly four decades. It is a diversified conglomerate with business interests spread across a variety of sectors. It is the pioneers in discovering and creating innovative and cutting-edge solutions across sectors. Its qualified R&D team and product specialists carry out ongoing new product development, tailored to suit specific requirements.

It is engaged in the manufacturing of Vanaspati, refined oils, expelling of oil from seeds, solvent extraction of oil from seeds, de-oiled cakes and basmati and para-boiled rice. Its integrated edible oil complex is one of the largest integrated units in North India and comprises of several units, with a capacity of processing 1,000 MT per day. It is one of the most modern and vertically integrated edible oil and rice complexes in North India with a loyal customer base and a 300-dealer network spread across Northern India.

BCL is primarily engaged in rice bran oil manufacturing and processing. The integrated edible oil complex is equipped with capabilities to handle all stages of solvent extraction. It is present across the value chain – crushing, solvent extraction, refinery, rice sheller, chemical refinery, physical refinery and a
Vanaspati ghee manufacturing unit and packaging.

In addition to the purchase by Porinju Veliyath, EQ India Fund bought 4,50,000 shares at Rs 109.90 and Om Prakash Chugh bought 75,000 shares at Rs 109.90 on the BSE.
valuepicker
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Re: BCL Industries: Porinju Veliyath Latest Stock Pick

Post by valuepicker »

Is it good to enter the stock at current levels? Why is it not allowed trade above 137.2?
Pee Vee
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Re: BCL Industries: Porinju Veliyath Latest Stock Pick

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valuepicker wrote:Is it good to enter the stock at current levels? Why is it not allowed trade above 137.2?
BCL Industries is in the Group X.

According to the BSE:

"As a part of Exchange's role towards ensuring market integrity, BSE is continuously looking for further strengthening of the market regulation framework particularly in respect of securities of companies that are only listed/traded at BSE, considering their specific characteristics such as large number of companies, low to moderate market capitalization, lower contribution to overall trading turnover and relatively higher attention required to be devoted to these securities by the Exchange, from a regulatory due diligence and monitoring standpoint.

It is therefore decided to classify equity securities of companies that are only listed/traded at BSE and satisfy certain parameters into separate sub-segments called "X", and "XT". At the time of review any securities falling in Trade-for-Trade segment ('DT' or 'T' groups) are classified under "XT" sub-segment.

Notice No. 20171124-33 for Merger of 'XC' and 'XD' Groups to 'X' Group

Daily, Weekly, Monthly, Quarterly and Annual Price Bands effective from October 1, 2015 (refer to notice no. 20150806-24 of August 6, 2015 and notice no.20150930-36 of September 30, 2015) would apply to the securities classified under all the above 3 sub-segments. Further, a review of this sub-segment will be carried out on half yearly basis. The securities that are classified in the 3 sub-segments are given in Notice no. 20160128-35 dated Jan 28, 2016.


So, the price band will continue for some more time.
Pee Vee
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Re: BCL Industries: Porinju Veliyath Latest Stock Pick

Post by Pee Vee »

Today Nikhil Vora bought 250,000 shares of BCL Industries and Infrastructures Ltd at Rs. 137.2. Kanchan Sunil Singhania bought 100,000 shares at the same price.

On 20th November, Porinju Veliyath bought 2,00,000 shares of BCL Industries at Rs. 109.9. EQ India Fund bought 4,50,000 shares while Om Prakash Chugh (Ashish Chugh) bought 75,000 shares
valuepicker
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Re: BCL Industries: Porinju Veliyath Latest Stock Pick

Post by valuepicker »

Does it mean it can trade above 137.2 only aftet jan 28, 2018?
Pee Vee
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Re: BCL Industries: Porinju Veliyath Latest Stock Pick

Post by Pee Vee »

valuepicker wrote:Does it mean it can trade above 137.2 only aftet jan 28, 2018?
I think 31st December 2017 may be when the limit is released for BCL Industries.
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