Wednesday, July 10, 2013

Glodyne Tech Ltd hits the buyer freeze in the opening trade. I had asked all in the Facebook to buy the IT companies, who has overseas subsidiaries. Because, unhedged depreciated rupee is expected to  have positive on the balance of these companies. Also, I had mentioned some days, back, that at present the company is doing 2-3 projects and is expected to get few more in the next couple of months. The current price of Rs.9.38 is absurd, it will soon move towards Rs.50, in the coming days, as the company is limping back to normalcy. 
My last week recommended Mastek Ltd at Rs.116-117, reached its first target of Rs.126 today, after it touched Rs.126.70, intra-day. The scrip closed at Rs.124.45, up 3.24% on a closing basis.
My recommended Shree Renuka Sugars Ltd at Rs.16-16.50, today touched Rs.18.40. Now if it crosses Rs.18.70, then the next target is Rs.21-22. The scrip was recommended on the twin reasons: (i) It has overseas subsidiaries and INR depreciation would help it (ii)  The government is likely to soon increase the customs duty on sugar to 15% from 10% now, two senior government officials said.
Today, buy was initiated at 6000 Nifty_Call at Rs.22-25, T--Rs.38, SL-Rs.21. It seems the target will be reached within a couple of days, as the downside appears to be limited. Get daily Nifty_Future levels and other details in the Paid Blog:
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