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Phase One Alert: A Quick Update - Views on News from Equitymaster
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Phase One Alert: A Quick Update
Feb 1, 2017

Dear Reader,

The Finance Minister presented the Union Budget 2017-18 today. We are happy to report, there were no adverse announcements that could have impacted our Phase One Alert recommendation, National Fittings Ltd.

On the flip side, there were no specific policy announcements for the piping industry. However, this does not concern us at all. The company's fundamentals are excellent and its growth trajectory is on track.

We believe, National Fittings is on a firm footing and is well on its way to create a lot of wealth for shareholders.

The company will announce its December quarterly results within two weeks. We will update subscribers with a detailed result update at that time.

In the meantime, our view on the stock remains unchanged. At the current price of Rs 248, it is trading 31% higher than our recommended price.

We maintain a maximum buy price of Rs 230 for the stock. We recommend subscribers to not consider buying any Phase One stock above the maximum buy price. Please note, the above is a generalized recommendation and not investment advice.

Me and my Phase One Alert team are in the midst of a flurry of company meetings to find more top quality Phase One stocks. Because of a busy schedule, we wish to inform you that Phase One Digest for this month will be released on Friday, 10 February.

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INTRODUCTION:
Equitymaster Agora Research Private Limited (hereinafter referred to as "Equitymaster"/"Company") was incorporated on October 25, 2007. Equitymaster is a joint venture between Quantum Information Services Private Limited (QIS) and Agora group. Equitymaster is a SEBI registered Research Analyst under the SEBI (Research Analysts) Regulations, 2014 with registration number INH000000537.

BUSINESS ACTIVITY:
An independent research initiative, Equitymaster is committed to providing honest and unbiased views, opinions and recommendations on various investment opportunities across asset classes.

DISCIPLINARY HISTORY:
There are no outstanding litigations against the Company, it subsidiaries and its Directors.

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DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
  1. 'subject company' is a company on which a buy/sell/hold view or target price is given/changed in this Research Report
  2. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have any financial interest in the subject company.
  3. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have actual/beneficial ownership of one percent or more securities of the subject company at the end of the month immediately preceding the date of publication of the research report.
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DISCLOSURE WITH REGARDS TO RECEIPT OF COMPENSATION:
  1. Neither Equitymaster nor it's Associates have received any compensation from the subject company in the past twelve months.
  2. Neither Equitymaster nor it's Associates have managed or co-managed public offering of securities for the subject company in the past twelve months.
  3. Neither Equitymaster nor it's Associates have received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  4. Neither Equitymaster nor it's Associates have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  5. Neither Equitymaster nor it's Associates have received any compensation or other benefits from the subject company or third party in connection with the research report.
GENERAL DISCLOSURES:
  1. The Research Analyst has not served as an officer, director or employee of the subject company.
  2. Equitymaster or the Research Analyst has not been engaged in market making activity for the subject company.
Definitions of Terms Used:
  1. Buy recommendation: This means that the subscriber could consider buying the concerned stock at current market price keeping in mind the tenure and objective of the recommendation service.
  2. Hold recommendation: This means that the subscriber could consider holding on to the shares of the company until further update and not buy more of the stock at current market price.
  3. Buy at lower price: This means that the subscriber should wait for some correction in the market price so that the stock can be bought at more attractive valuations keeping in mind the tenure and the objective of the service.
  4. Sell recommendation: This means that the subscriber could consider selling the stock at current market price keeping in mind the objective of the recommendation service.
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Aug 24, 2017 03:36 PM

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