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Monday, Jan 31, 2005

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All of life is on the wire, all else is waiting

Jogin almost suffered a cut while shaving when he thought of Gillette. Yet, spraying some aftershave to stay cool, he sat at his PC to chat on markets with Sridevi, Dakshinamoorthy and Khan. Take care!

Jog: Hi, everybody, here's a fresh-from-the-shower

`bullish' good morning!

Kay: Next target for Sensex is 6500. To breach this

week, I bet. :-)

Sri: Nifty breached key resistance levels after Friday

party, so charts point up.

Dax: I'm not so good at running but I see stocks running

all the way till Budget.

Sri: Means, I can enter the market now with exit option

around Feb 25?

Kay: Smart thinking. During the same time, derivatives

expiry will also happen.

Jog: Market gappa is that Chiddu will cut corporate tax

rate to show green flag to stock market.

Kay: So one can look at companies that pay high tax by

calculating tax payout ratio. You

know how?

Dax: Percentage of tax outgo on

PBT. See, ITC, HLL, Tata Steel,

SAIL and PSUs pay high tax!

Sri: I'll be happy if the FM

exempts women from tax.! :-(

Jog: Let me cut your daydream

with Gillette India. It can

post more gains and consolidate.

Kay: I got a letter from Kolkata

uncle. They're selling Reliance-

make pressure cookers with

Reliance Infocomm logo! All counterfeit, they say, `cos

brothers have no time to watch what's cooking!

Dax: Here's my word, mid-cap stock will continue to out

perform. Take position is any good sugar co.

Sri: Core Healthcare stock is moving up after sharp fall. If

you're holding it, sell it. If you want to buy it, avoid.

Shareholders may not get anything after asset transfer to

Nirma. Deal is unknown, yet.

Kay: Bank of Baroda's numbers could be a drag.

Remember they gave earnings few months ago?

Jog: Most banks didn't report good numbers last quarter?

Like, Canara, Union Bank, BoI and Syndicate Bank. But, I

see SBI buoyant on attractive valuation and impressive


Sri: Good earnings make MM Forgings, Ramco Systems

and Siemens fonder. Saregama... padanisa

Dax: Stop singing, Sri, till we get the accompaniments. Or,

you're talking about the MGM tie-up?

Sri: Yes, to market VCDs and DVDs. Saregama's is a

turnaround story that has steam left. Sa-pa-sa!

Kay: Markets see favourably Ashok Leyland's move to sell

its castings business to sister concern, Ennore Foundries.

Expect firm undertone in the stock. What about Willard

India stock?

Dax: It may attract interest as FIs have approved the debt-

restructuring package. This clears the way for demerger

of sugar and jute business; though a small player, the sugar

entity could be a lure.

Jog: I'm not happy with quarterly figures from MRPL and

Godavari Fert. Any news about Essar?

Sri: Yes, sir. Heard that Essar Oil and Essar Gujarat can

see upside shortly. Don't ask why, or how!

Kay: Power cut, I mean, tax cuts for power sector, possible.

Think of NTPC and Reliance Energy.

Dax: I looked into Government's think-tank and found

they're in favour of allowing FDI in real estate.

Sri: So, there can be many more real estate funds!

Construction sector looks like a good bet!

Jog: L&T, IVRCL and Gammon are in it. But, Sri, if you're

looking for bouquets, you may get...

Kay: All of life is on the wire, all else is waiting. If you fall,

you may make "a dent in the universe".

* * * * *

Lee, with inputs from Vir, Nat, Ray, Mad and Sve.

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