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Friday, May 03, 2013

Market Mantra
Morning Call on Punj Lloyd Ltd at Rs.52.50,and is now trading at Rs.53.50 and would be slowly move higher. Any repo rate cut is positive for the construction and banking space, though much of it is sentimental.
Those who want to do a bit of speculation can try AANJANEYA LIFECARE LTD (BSE Code: 533412) at the lower circuits at Rs.86.20, with  a SL at Rs.82 (Sell). The punters are expecting the stock to hit upper circuits in the coming days, as it fell from Rs.850.70 and further downside is limited. Aanjaneya Lifecare Ltd is the world's third-largest manufacturer of quinine products (APIs) and the second-largest in India (capacity 500 MTPA). More than 50% of its quinine salt production capacity is usually booked by its customers at the start of any year. In the same vein, they could do a bit of speculation in Brandhouse Retails Ltd (BSE Code: 533059) at Rs.2.30, for a target of Rs.4-5. But do exit the scrip, below Rs.2. 
METAL: India plans to impose safeguard duties on some iron and steel pipes, tubes and profiles to protect domestic producers from imports from China and Italy. This is going to have positive effect on the companies in this space. Sterlite Industries Ltd  (CMP: Rs.97) is already moving up, Sarada Energy and Mineral Ltd is already going great today, CMP: Rs.108. 
Tulip Telecom Ltd (Rs.22.60) hits another buyer freeze in the opening trade. Those who have taken my call and have invested must be feeling great. 
RBI has clearly indicated the use of OMOs to increase the liquidity in the system. The RBI's decision of not going for a CRR cut immediately ignoring to the clamours of some bankers probably, is wise, as this could have given sudden gush of liquidity in the system, increasing the threat of retail inflation spiking up (core inflation and WPI are more or less in check). Bottomline: Our "Ustad"  perhaps delivered the right drug this time though his prescription for future looks a bit conservative and bitter. However, his term ends in this September, 2013 and hence his forward looking statement might not carry much meaning for the markets. The action by the RBI is widely believed to keep in check higher inflation expectations and the inflation could follow the same trajectory with a downward bias. The liquidity is expected to remain moderate in the system, with RBI hand coming often.....The growth would continue as the government is taking various measures to lift the sagging economy. The current policy action is expected to have neutral effect on the markets. The Nifty_Spot which is now ruling at 5960, is expected to move up from here and would make a dash towards the next target of 6040 (Spot).