RITES giving bamboo to investors
RITES pays dividends, stock split etc.....but it has given major bamboo to its investors after the major run up...The most likely reversal area is around 150-160....provided we see some price action there....I wouldn't have much hope unless the overall Indian market sentiment improves.. Why can't they remove LTCG tax? FIIs are getting better returns putting their money in UAE which is giving 5% without tax.....Here Nifty might give 5% with the additional risk , because LTCG makes it less enticing to invest...Right now, this stock is in a death spiral....I have bought some at these levels and will continue to average down....Multiple sell orders till 400.....Keep in mind FIIs are still aggressively selling.....and FDs are giving better returns now.....so invest at your own risk....
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.