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There is no stopping of Tulip Telecom Ltd as the scrip hit another buyer freeze at Rs.5.40 in the BSE. The scrip is hitting continuous upper circuits, after it was recommended a buy only some days back.
TV18 Broadcast Ltd recommendd around Rs.22, last week to the Paid Groups today touched Rs.23.15, intra-day before closing at Rs.22.95. The scrip would be moving towards the next target of XXX (For the Paid Groups only) in the next few trading sessions.
The Gold stocks retreated today, after the Finance Minister, P Chidambaram made it clear that any decision on relaxing import curbs would be taken only after the final current account deficit (CAD) number is firmed up. It is to be noted that the official CAD number comes usually after a two-month lag. The number for October-December quarter was announced on March 5, 2014. It is estimated that the final number for 2013-14 will come out in June. It implies any decision on relaxing import curbs, such as lowering import duty or removing the ‘80:20 scheme’ may have to wait. Bullion traders have said that the curbs have jeopardized the demand and supply chain and they are going in for a strike on March, 10, 2014, to protest against the government decision. As a c consequence of this Shree Ganesh Jewelry House (I) Ltd closed at Rs.26.70, Gitanjali Gems Ltd at Rs.62.65, while P C Jeweler Ltd closed at Rs.103.65. However, there is pressure from the commerce ministry and the congress chairperson, Ms.Sonia Gandhi to ease the import norms. Also, since Shree Ganesh Jewelry House (I) Ltd is more into exports, their bottomline is not likely to be affected much.