Vijay Shanthi Builders Ltd hits the upper circuits in the opening trade. The investors should slowly accumulate the real estate stocks which are doing well.
Buy Reliance Industries Ltd at Rs.786-792, T--Rs.801-813, SL--Rs.783. The Venezuelan firm Petroleos de Venezuela may ink a long term crude oil supply pact with Reliance Industries Ltd.On the other hand, Reliance Power Ltd, denies financial gains from use of the surplus coal for the Sasan ultra mega power project, in another project.
The drama in the Parliament by the BJP continues, much to my disgust. It is just an irresponsible behaviour from the BJP, the major opposition. It is really appalling to see, how they are trying to fool the general mass into believing that they are "Holier than Thou". Are public stupid......??!! Who will pay up for the losses due to this....!! No political party is bothered for the betterment of India--they are more interested in their own benefits. The BJP knows if their is a debate, then their names could also be dragged and that is why this kind of cunning move to obfuscate the main issue. Also, many have spoken about the rise in the share price of the scrips, following allocation of coal mines. But then, the rise of the price of a scrip depends on sentiments and it cannot be quantified. That is why we have different P/E ratios for different sectors. It would be foolish to assume that because a company has mines its scrip would rise if the market conditions are not conducive. The examples given by a gentleman in a television channel is when there was a bull run going on in the bourses---we cannot compare that situation with that of the present. Also, those who have bought the scrip and have enjoyed capital gains on them have paid the taxes to the government. So, the question is how is this figure of 1.86 lakh crore (or whatever) has been arrived at......??!! Besides, my take is that: Once the mines are allowed following the laws of the land, the where is the question of Auction comes? Also, what is the guarantee through auction, the government could have got higher price? Could the government master enough money in the ONGC issue, some months back. It is unfortunate that these kinds of fictitious issues are hampering the growth and prosperity of the India. If there is a genuine issue, the BJP can nail the government, but asking an honest Prime Minister, to resign on the charges of corruption is too much.