Date: 22/Nov/2011
CMP: 91.65
About Hanung in Brief:
Hanung Toys & Textiles Ltd. is engaged in the manufacturing of Stuffed Toys/Plush Toys and Home Furnishings. It is regarded as India`s largest manufacturer and exporter of Soft Toys Decorative Cushions and Children`s Room Furnishings.
Technical Indicators:
| 5 Day SMA | 96.08 |
| 20 Day SMA | 106.71 |
| 200 Day SMA | 157.20 |
Analysis:
Slowly investors have started accumulating Hanung as % delivery to total traded quantity has increased over the last weeks but its 5day Simple moving average(SMA) is still below its 20day and 200day SMA.
The company will not benefit much from the deprecating rupee as 75% of its sales is naturally hedged and therefore marginal benefit on the rest 25% of sales is only expected. The company has also reduced its capex plans to 350crore from 720crore.
Recommendation:
Don’t buy the stock in bulk now but slowly start buying the stock for medium to long term.
As of now don’t buy the stock for short term gain.
Will let you know all when its the perfect time to buy Hanung toys.
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