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Drumbeat: Ad Buzzaar
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Thursday, July 9, 1998
Buy Esab India for long-term investment
K Seshadri
If the recent volume action is any indication, the accumulation process has made a beginning in Esab India. Shares worth Rs 82 lakh changed hands on Wednesday and worth Rs 54 lakh on Tuesday. The scrip in on a recovery path after tracing Rs 72 as its recent bottom. A little earlier it had hit a low of Rs 64 just for a day, and Rs 69 can be considered as the bottom, when the markets went under recently.The scrip has closed at Rs 80 and is a good pick for medium term investment. The scrip has a good chance to recover to Rs 100 - 110 region. The technical indicators have signalled a buy both for the short term as well as the long term. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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