Financial Daily from THE HINDU group of publications
Monday, Dec 20, 2004
Markets - Stock Markets
`Never think of the future, it comes soon enough'
FM has asked the state governments to reduce fuel tax, but will they, wondered Jogin even as he revved up his PC to chat about markets with Khan, Sridevi and Dakshinamoorthy. Join the buzz!
Jog: Let me not say anything about auctions and actions,
but there's confusion.
Kay: True! Unsure about market direction. May not fall
beyond 100-150 points.
Sri: Chart patterns hint at near-
term correction, after the recent
Dax: I expect Reliance Group
stocks to rule weak. Solution to
the spat does not appear to be in
sight in the near-term.
Kay: UB stock could also go up.
Thanks to its stake sale
announcement to Scottish &
Newcastle Plc at Rs 575 a share.
Upside is limited as the stock
moved up sharply only recently.
Sri: But investors should take cue from this deal and move
to Shaw Wallace.
Jog: Promoters too have expressed interest to sell their
stake and bring in a new investor! :-)
Dax: Sesa Goa is expected to open firm on Monday. There
is possibility of the stock rise to Rs 300-400 from these
levels. Bonus in the ratio of 1:1 has surprised the market.
Kay: NEPC India stock has moved up sharply last week.
Further rise is possible several foreign broking firms
have show interest in the stock.
Sri: A leading US-based broking firm's Indian operations
have made a company visit note on it.
Jog: Hmm, before you decide to buy the shares, it would
have already gone up sharply! :-|
Dax: Why lose heart? MRF board meets to take on record
earnings for the year-ended Nov 04.
Kay: Right, expectations of a high dividend could keep the
stock in the limelight!
Jog: My Salt Lake cousin got a Rs 16 K job from Wipro.
His Infy and Tata friends say rate is half of what is
in Mumbai, Bangalore and Gurgaon. I tell him he
Sri: That's my chinta too! Suddenly you may find
outsourcing going off to Nepal!
Dax: Tata Power is not wasting time, they say. Pushing on
with its DVC project, Maithon move on!
Kay: Infosys could rule firm after shareholder approval
for a second sponsored ADS issue.
Jog: Exide could see some action on the news of it placing
preferential shares with a Mauritius firm.
Sri: Geojit can see some buzz. Board meets this week to
decide on a preferential issue.
Dax: Krebs Biochem, an investment buy. Good results.
Fundamentally strong. JMO
Jog: Did I tell you I'm watching IDBI, Bank of Punjab and
Bank of Rajastan?
Sri: You know what I'm nervous about?
Kay: That correction comes when we are least alert?
Jog: So what? It's good for the bull market in the long run!
Dax: To find a friend like Jog, one must close one eye. To
keep him, two! LOL
Sri: Ha, ha, that's a Norman Douglas quote. I think I'd
rather follow what Einstein said!
Kay: "I never think of the future. It comes soon enough."
* * * * *
Lee, with inputs from Vir, Nat, Ray, Mad and Sve.
Send in your views to: Chat@TheHindu.co.in.
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