Friday, November 23, 2012

Market Mantra
IT IS NOW OFFICIAL: The Promoters of CINEMAX INDIA LTD  are looking to sell their stake in the company but have not yet finalised any definitive agreements. PVR is set to buy out the 141-screen multiplex chain CINEMAX INDIA and has offered to buy the promoters' stake at 170-180 rupees per share. We are already getting the price movements in the shares of both Cinemax India Ltd and Cinemax Properties Ltd too. I think Cinemax Properties Ltd would be one of the biggest beneficiaries of this deal. The scrip is now trading at Rs.20. The scrip has  been asked as a strong buy ta Rs.17, when it fell. 
Buy Tulip Telecom  Ltd at Rs.37.50, T--Rs.44, SL--Rs.34. When most of the telecom stocks have started to do well, I think this stock will also move up.
Meanwhile, my recommended Onmobile Global Ltd is also moving up---in the morning trade it touched Rs.43.50.
By Nifty_Futures at 5613--5614, T--5670, SL--5590. I think the present condition looks bullish for Nifty.
Buy Reliance Power Ltd at Rs.90-91, T--Rs.97--100, SL--Rs.86. The ministry of power has clarified that the company's ultra mega power project in Tilaiya enjoys exemption from a key provision of the Forest Act requiring it to provide non-forest land to compensate for the loss of forest land acquired for the project. This is a great relief for the company and the scrip should react positively.