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US indices hit record highs Wednesday on US Federal Reserve's move to leave its monthly asset purchase programme unchanged at $85 bln per month.
Key Asian markets advanced on US Federal Reserve's move and is still trading firm, on strong global cues.
Fundamentally speaking, in case of domestic market, the stock indices have opened sharply up, on US Federal Reserve's stimulus move. Although gains are likely to sustain, some caution may prevail as investors will now await RBI’s monetary policy review on Friday.
Today's call: Buy Opto Circuits Ltd at Rs.24.10-24.20, T-Rs.27-29, SL-Rs.22. When most of the stocks are moving this stock cannot stay in this space for long. Cardiac Science Corporation, an Opto Circuits group company and a global leader in automated external defibrillators (AEDs), has signed a three-year contract with the state of New Jersey to provide AEDs and related services to state agencies. CLICK HERE. Moreover, the pharma Index is up 88 points, so this is expected to shoot up, in the next few trading sessions. Opto Circuits (India) Ltd has informed BSE that the 21st Annual General Meeting (AGM) of the Company will be held on September 30, 2013. According to a Financial Portal: the top 15 dividend yield stocks in the wider BSE 500 list include HCL Infosystems, Opto Circuits, Dena Bank, Akzo Nobel, Syndicate Bank, Indian Bank, Andhra Bank, Indiabulls Housing Finance, Allahabad Bank, JBF Inds, NIIT, Manappuram Finance, Union Bank of India, Corporation Bank and United Bank of India. CLICK HERE.
Allied Digital Ltd hits the buyer freeze at Rs.22.17. The scrip fell from Rs.200 plus and hence have the potential to move to that range in the coming days. The company has brought in lot of changes in its working. CLICK HERE.
Those who are holding Manappuram Finance Ltd are suggested to hold on to their positions as the new RBI guidelines and the US Fed decisions, would be positive for the company in the medium term. Moreover, with the festive season on, the price of gold is expected to remain buoyant. I am expecting a price of Rs.XXX for the scrip. The same holds true for Muthoot Finance Ltd, whose can target can be pegged as Rs.XXX.
Reliance Capital Ltd reached the 2nd target of Rs.362 (intra-day it touched Rs.365). The scrip was recommended around Rs. 347-348.
Those who are holding Punj Lloyd Ltd are suggested to book some profits at Rs.25.70-25.75 and wait for the stock to come down to around Rs.24.70-24.90, where you can again pick up. The scrip has moved up from Rs.23.85 to Rs.24.75 today, giving more than 5% returns in one day.
Kohinoor Broadcasting Corporation Ltd hit another buyer freeze in the opening trade. The scrip is locked at the upper freeze at Rs.0.25. The scrip was repeatedly asked to be accumulated on all declines.