Hy Goldentip , according to your advise , I have bought 500 shares of Prime Focus @ 182.50 , I would like to know when it will reach upto 550 levels atleast ? , I would like to know future of this scrip. I can hold this shares upto 1 year , what should be my target for sell ? pl reply , am awaiting for your reply
Ankur, I am adding small amounts even at this level. However, please do not buy or sell according to what I am doing, because each one of us should be able to make our own judgement based on our understanding and risk taking capacity. I myself do not have 500 shares till date.
Having said that, I believe this is still a very nascent area, post-production work of Indian movies/ ads/ others used to be done abroad till very recently, and as and when Indian companies like PFOCUS establish their credentials in a more consistent manner, work will slowly shift to them. In fact, in medium term future we may even see some Hollywood job being done in India to take advantage of cost arbitrage.
Prime Focus most recently did the post production of Ghajini and I think they did a very credible job.
However the story is similar to that of Indian software in the early 90`s. How long it will take for them to emerge as global leaders, who will survive, who will not, only time can tell. Meanwhile I am keeping a close watch on them, without being too emotionally attached. I have not yet set a target for myself.
One can add at this price.. Reliance media and entertainment mutual fund recently picked up a large stake. Rakesh jhunjhunwala is one of the investors.. company has good standing in the film industry and also, their work can be seen at many places...
I might add, that it is at less than 1/10th price than its all time high presently although it is at 3 times its all time low..
Recent market uptrend to 15500 took its price to 260 or so, and now it has retraced more than rs.100....it might go lower by rs.10 or 20 but i dont think there is further downrisk.
It is a low volume share, very difficult to buy in the market,so best to buy when one can..and while its still available cheap. A buyer with an order of even 5000 shares can make it go to upper circuit on certain days..
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