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Sierra Optima : Termination of orders

THE Sierra Optima stock, which has risen 46 per cent in the recent rally in tech stocks, may be headed for lower levels.

This follows the possibility of termination of all pending purchase orders by Sierra Atlantic Inc, US, a major revenue source for the company. The service requisition for all pending purchase orders are to be terminated by a 90-day written notice to Sier ra Optima in accordance with an agreement between the two companies. This move is likely to have an adverse effect on the profitability and business prospects of the company. In the wake of this development, the Sierra Optima stock may trade with a downw ard bias in the near term. -- BL Research Bureau