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Tuesday, September 10, 2013

Market Mantra
United Breweries Ltd recommended around Rs.732-733, today touched Rs.851.70. The scrip was recommended a couple of weeks back on some positive development in the company. 
HDIL and JP Associates Ltd which were recommended reached their respective 2nd targets of Rs.39. It is time to book at least 80% profits in both and wait for the ultimate targeta of Rs.42 in both the scrips. Meanwhile if HDIL closes above Rs.44, then we could see a rally upto Rs.51. 
Today's Call: Buy Dena Bank Ltd at Rs.48.30, T--Rs.62, SL-Rs.41.80. Among the public sector banks, this is one of the best banks. In the June, 2013 quarter its EPS is Rs.5.40, which gives a natural target of Rs.110-115 for the scrip in the short term. The scrip of SAIL is not performing even through INR is doing fine. Hence, if one wants to interchange it with Dena Bank Ltd, they can do it. 
Manappuram Finance Ltd today touched Rs.17.85 and is now trading at Rs.17.50. As long as the gold price does not crash, this stock is expected to move up slowly. Moreover, there is around only 2% delinquencies, and hence, there is much safety in the counter. My close sources, the company is expected to post better results in Q2FY13, compared sequentially. According to a marketman, when gold prices move up, 1stly, the NPL of the gold loan companies, start to come down, i.e  the recovery rates start to move up. 2ndly, the amount which one can disclose on a similar quantum of gold, starts to move up. So overall gold prices moving up is positive and that is what the market is trying to price in.
Karnataka Bank Ltd which was recommended around Rs.78-79, today touched the 2nd target of Rs.88. In a similar way, B F Utilities Ltd touched its first target of Rs.139 (intra-day high of Rs.141)