The Morning Call Allahabad Bank Ltd at Rs.128, saw it touch Rs.131.40, intra-day. Also, looking good is UCO Bank Ltd at Rs.62 and IVRCL Ltd at Rs.19.50. I had earlier asked all to buy the stocks in the Banking and Infrastructure spaces as any rate cut by the Reserve Bank of India, would have positive effect in the stocks of this sector. With inflation declining to below 6 per cent in March after over three years, Planning Commission on Monday exuded confidence that the price situation would improve further in the coming months. “The fact that this is the first time (in over 3 years) it is below 6 per cent, is very important and I hope that we will continue to see that often”, Commission’s Deputy Chairman Montek Singh Ahluwalia told reporters in New Delhi. Declining price of vegetables pulled down inflation to 5.96 per cent in March. Inflation based on the Wholesale Price Index (WPI) stood at 6.84 per cent in February. In March, 2012, it was 7.69 per cent. The 5.96 per cent March-end inflation is much lower than Reserve Bank’s projection of 6.8 per cent.
Kingfisher Airlines Ltd hit the lower circuits today, due to delay in getting permission from the DGCA, but these things do take a little time, but ultimately the we would see the light at the end of the day, as the company has put up a credible plan. Also, even if AAI does not give permission to fly it can start its operation from the privately managed airports.