Grindwell Looking for a Grand Breakout.Grindwell Norton Company has two types of business, Abrasives Business and Ceramics Business. In Abrasives business they manufacture a full range of bonded abrasives, coated abrasives (including non-woven Abrasives) and Super abrasives. In Ceramics business they manufacture refractory systems for high temperature, ballistics and wear application. CMP of the stock is 1878.40. Negatives of the company are high valuation (P.E. = 59) and MFs decreasing stake. Positives of the company are no debt, zero promoter pledge, improving annual net profit, improving quarterly net profit and FIIs are increasing stake. Entry in the stock can be taken after closing above 1900. Targets for will be 1960 and 2023. Long term target in the stock will be 2152 and 2189. Stop Loss in the stock can be kept at a closing below 1723 closing.
