Please give your view on UB Engineering. Vikram Doshi
UB Engineering (Rs 92.3): UB Engineering is one of the stocks that moved out from the wilderness in the second half of 2007 to record a breath-taking rally that made it rise from Rs 40 to Rs 215 in six months.
But the speculative force behind this run-up is amply demonstrated by the decline from the January peak that eroded almost all these gains in less than three months.
The recovery since March faces the first hurdle in the band between Rs 100 and 110 and then at Rs 125.
The stock is struggling to surpass the first hurdle currently. Short-term investors can divest their holdings at either of these levels. Stop loss is recommended at Rs 64.