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Monday, June 03, 2013

Market Mantra
Photo, Courtesy: Flying Calls
Buy Nifty_Futures at 5946, T--5990, SL--5900. The markets are expected to improve at the latter hours today. The market has more or less bottomed out, as it is now  almost confirmed that there would be a CRR cut in the June, policy rates of the RBI. Some of the reality/construction counters, like ARSS Infra Ltd, DLF Ltd, Peninsula Land, Brigade Ent, JP Associates Ltd, etc.  are already reflecting such positive anticipation. US indices fell sharply on Friday amid concerns the US Federal Reserve may start scaling back its quantitative easing programme due to rising consumer sentiment and improvement in manufacturing data. If there is an improvement, in any economy, why should there be a sell off? Hence, theoretically speaking, the US markets should move up and at the same time USD should strengthen, as it could signal an end of the low interest rate regime. While in India, we have a softer interest rate cycle already in place.  Any fall in the INR against USD will be positive for the export oriented sectors, like Textiles, IT, Auto, Iron and Steel, etc. Hence, all these apprehensions, of a crash in the US and Indian markets are, media made fears and should be overlooked.
Buy Eros Media Ltd at Rs.163, T--Rs.177-182, SL--Rs.157. The company is expected to have lot of releases in Q2 and Q3. 
Buy IVRCL Ltd at Rs.17.25, T--Rs.23, SL--Rs.16. The company came out with a good set of numbers for the Q4FY13. Buy HDIL at Rs.41, T--Rs.49, SL--Rs.37. The stock has more or less bottomed out and with the company giving good guidance (though a bit cautious), the scrip should do well in the coming days. 
Glodyne Tech Ltd, came out with results which are a little better than expectations (no one has expected a profit in Q4FY13). The point is that inspite of writing off a huge bad debt of Rs.126 and making some provisions for a subsidiary its bottomline in Q4FY13 is better sequentially. Hence, I do not think there is much downfall left in the company's share price. CMP: Rs.11.15.