Financial Daily from THE HINDU group of publications
Monday, Nov 29, 2004
Markets - Stock Markets
Is the bhai-fight a show business as the market bleeds?
When god-men have no answers, it seems gods may hold the key, thought Khan reading about Anil's appointment with Balaji. Elsewhere, Sridevi was starting the weekly chat with Dakshinamoorthy and Jogin. Join their prayers... for Sensex!
Sri: Bhai sahib, will raksha work in this crisis? Technicals
and fundas are out!
Kay: I'm worried about what Reliance holds big in several
Jog: List includes Emco, TV18, and Megasoft. I see
weakness in these.
Dax: Why worry about Ambanis? Any selling could
be temporary. It will be absorbed by FIIs who are sitting
on a pile of cash to be used
before Dec end.
communication boss is
in trouble not knowing bhai X
Sri: Heard they're gunning
for a financial journalist,
like Jog. :-) Any astrologer too
in the game?!
Kay: Good. Get back to
Anybody watching BOC India?
Sri: It's going to set up oxygen plant in the South for
Jindal Vijaynagar. Has order from Inox Air.
Dax: Cipla is a stock to watch out. It bottomed out after
the fall since October this year.
Jog: IT stocks have run up very fast. However, rupee is
appreciating against US dollar. If this trend continues,
there can be some pressure on the IT sector.
Kay: Welspun Rohrel got a Rs 510-crore order from the
US! Good long-term investment. JMO.
Jog: Bull turn for textiles, I think. Bet on S.Kumars.
Counter active. Turnaround soon?
Sri: Watch Zee Telefilms. Supreme Court resumes
hearing on the cricket telecast rights this week.
Kay: Profit ahoy for SBI because of hike in home loan and
Jog: Chart patterns point to near-term bullishness, though
key resistance levels beckon.
Dax: Not that I keep watching who gets into which
hospital for what, but plans to rope in a US-based
collaborator for medical BPO business might keep
sentiment positive in Apollo Hospitals. B+
Sri: Healthy revenue growth and lower losses likely to
reinforce turnaround story in India Cements.
Kay: Open offer at Rs 185 proposed by Sterlite group
for Malco. Gap with market price narrowing.
Dax: Hike in railway freight rate may have a temporary
dampening effect on cement stocks.
Kay: Also, steel and coal. See Siemens's investment plans.
Momentum in the horizon.
Sri: Markets may view expansion plans announced by
EID Parry positively. Dare!
Jog: I saw a Hindi movie where two bhais were fighting.
Couldn't figure out who was winning!
Kay: Don't forget, Jog, that boxing is show business with
blood! Take care, lots of it!
Dax: I'm afraid the market may bleed and the bhais may
come out unscathed at the end. :-(
* * * * *
Lee, with inputs from Vir, Nat, Bad, Ray, Mad and Sve.
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