Asian indices rose as positive economic data from the US led to confidence in global economic recovery.
The US equities touched record highs on Friday on better-than-expected economic data.
Fundamentally speaking, the Share indices which opened a gap up tracking positive overseas markets and on bullish sentiments after indices closed at 28-month highs on Friday, should maintain their momentum in the view of an expected CRR cut by the RBI.
- Power: Govt says 10 states opt for recast of power distribution companies' loans. Power ministry seeks reduction in import duty on all forms of coal used for power generation to 1% from 4% at present. Good for Sarda Energy and Minerals Ltd (Rs.11.50) , Reliance Power Ltd (Rs.82.45), etc.
- MONSOON: Southwest monsoon set over some parts of south Bay of Bengal and Andaman Sea. May advance to some more parts of the regions during next 2-3 days.
Globus Spirits Ltd (BSE Code: 53104, CMP: Rs.102), is coming up with results today. I have take some for some of my clients, just on speculation, with a Shot term target of Rs.111-112. This is a pure speculation call and hence non--risk taking investors could avoid the counter.
A Mumbai based Financial Weekly writes: " Sensex may hit an all time high in some days from now. But look at the mid cap index, which is 50% of the 2008 high and the small cap which is 45% of the 2008 high.“Wah re teji, tera jawaab nahin". Though this is presented in a satirical sense, but it indirectly means there is lot of room to play in the small and mid cap space and make tons of money.
Have you all forgotten the name of Eros International Media Ltd (BSE Code: 53261), which is still available at Rs.164.30; buy it for the medium to long term (6-9 months), for a target above Rs.200.
Those who love to do a bit of speculation can try Globus Spirits Ltd (BSE Code: 533104) at Rs.102, T>Rs.111-112, SL<Rs.99. The company is coming up with Q4FY13 results today (20th May, 2013).
Today, IRB Infrastructure Ltd reached its first target of Rs.132, after it touched Rs.135 intra-day. Sarda Energy and Minerals Ltd crossed Rs.112, today.
Buy Central bank at Rs.70, for a target of Rs.91-92, in the next few trading sessions. The company came out with scintillating numbers for the Q4FY13. CLICK HERE.