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Tuesday, April 03, 2012
WINNING STROKES: THINK DIFFERENT
Tata Steel Ltd recommended only some days back around Rs.472, touched Rs.482.20 today. I had long back placed a report on this blog which had the following tag line: The worst appears to be over for Indian steel makers, at least in the short to medium term, as domestic steel prices have improved and raw material costs have come down. It is expected that the steel manufacturers are likely to report an expansion in operating profit margins for Q4FY12. In the last month the domestic steel prices, as measured by the Indian Steel Price Index, were about 7% higher than the year ago period. This is an improvement of about 4% since the October-December 2011 quarter. Currently, the price of iron ore in the international market is $154/tonne, 3% higher that last year. Contract coking coal is at approximately $235/tonne, 4% higher than last year. For the first time in three quarters, the rise in finished steel in greater than the rise in raw materials, iron ore and coking coal. This will improve margins of steel makers. Meanwhile, the domestic steel makers, including state-run SAIL, have raised the prices for both long and flat products by up to Rs 1,500 a tonne, to partially offset the inflated production cost due to hike in freight rates. Long products are used in construction sector and flat products are used in the making of cars and consumer durables. The steel makers have increased the prices for both long and flat products on the back of good demand from construction and automobile sectors. So, buy all the steel counters. I hope most of you are holding/adding the shares (on declines) of Jai Balaji Industries Ltd (CMP: Rs.41.75). The stock could hit not stop buyer freezes anytime from now.
Bank/Financial Institution shares should do well in the coming days, due to factors mentioned earlier. I have already recommended Indian Overseas Bank (CMP: Rs.95.95), IFCI Ltd (Rs.41.85), UCO Bank Ltd (Rs.81.35), Allahabad Bank Ltd (Rs.190.70), SBI Ltd (Rs.2170), etc. The charts of IFCI Ltd are still looking excellent.
I am going to increase the Price of Paid Package from 1st May, 2012 and hence those who want to enroll should do that before the stipulated period. Also, those who will join my brokerage house will get 1 year subscription free and other facilities. If he/she is going for profit sharing arrangement then the minimum amount should be Rs.2 lakhs in case of my brokerage house (for others it is Rs.5 lakhs). Earn money through F & O and Margin trading in good large and mid caps. Get full back up during the market hours. Earn hassle free income keeping all the worries on my shoulder.
IVRCL Ltd today touched Rs.71.40 before cooling down a bit. I think those who have bought the shares around Rs.29-30, should book at least 70% of the profits and invest the profit in IFCI Ltd or Indian Overseas Bank Ltd at the CMP.