JBFIND @80 (010709) gets 1159 panch-tattva points and you may buy this for medium term.
ELECTCAST @32 (010709) gets 1216 panch-tattva points and you amy buy this for medium term.
DAAWAT @1075 panch-tattva points and buy it for medium term.
INDHOTEL @66 (010709) gets 816 panch-tattva points and you may accumulate this on days of declines.
Friends,
The govt has raised the petrol prices by Rs 4/ltr and of the diesel by Rs 2/ltr. It has been kind for the housewives and has spared the domestic gas and kerosene. I may tell you here that kerosene has been a means to make profit by the oil marketing companies dishonest officers by wrong means and there have been scams related to this. It is high time that govt does not leave exploitable pockets the wrong way. We the ordinery citizens, however seen too often that the loop-holes are at times by design and not by chance. Any way, let’s look ahead.
The fuel price rise is in order as this will remove constraint of govt and oil marketing companies but the conservatism of govt is so deeply imbedded that it could not a bolder step of freeing oil sector pricing. The govt would have to still bear Rs 30000 cr of subsidy burden on kerosene and domestic gas.
The auto sales have been robust for June 09 (YoY) and particularly by the trio ie ‘maruti’,'m and m’ and ‘herohonda’. The exports of autos are down as also the exports in general. The merchandise exports were $ 11 billion ($15.5 bn l.y.) in May 09.
‘Hindalco’ has decided to close ‘novelis’ plant in UK. ‘Novelis’ was aquired by ‘hindalco’ for $ 6 billion and it has reported losses of $1.91 billion in 08-09. I am sorry for an otherwise thorough and prudent person that Kumarmangalam is, for the non-rewarding initiative taken at long last after having missed many a buses of expansion of businesses and adding new lines inspite of having cash rich companies under his management. If only had concentrated on the Indian operation. I, however, do hope that these trying times will shortly be seen turning for the better. It is because there has been further cpacity additions and demand has to revive in the developed world after its financial order is restored.
The 10yr govt paper yields 6.98pc a slight drop over the week, the call rate is 3.25pc.
USD Libor for 12 months is 1.61pc (this is a very iviting rate for investment in India and hence the inflows will increase, keeping our markets high).
The dollar is going pretty cheap at Rs 47.89 but it sold for just Rs 43.33 12 month back.
The Nifty closed up yesterday at 4340 after see-sawing for the whole day. I reluctantly give a piece of my mind, it is a straight outcome from the recess of subconcious which may have noticed some positives of this nature and it is that ‘the Indian stock indices will cross all time highs by the end of this financial year’. You must take it with a pinch of salt as I profess no undertaking of assessment with data and numbers. The positives may have been noted by you too, this atleast would indicate that the balance has turned in favour remaining invested, whatever the budget may have in its womb.
HariOm,
krsnaKhandelwal
