Query Trends : Orissa Sponge Iron

Query : Please throw light on Orissa Sponge company. Share price has increased substantially though company has been showing losses since last few quarters. Can we buy at current levels?
Pradeep08

Thebullishtrends : Orissa Spong Iron shares closed today at Rs.563. Recently Orissa Spong has has doen the Preferential shares allotment to Financial institutions like IDFC etc. It is posting losses since last 3 quarters. We believe that people are operating this stock, hence buying is not recommended to you.