Monday, June 16, 2014

Today's recommendation Veer Energy and Infrastructure Ltd at Rs.5.28, moved to Rs.5.78, intra-day before closing at Rs.5.71. The charts are looking good for the scrip. There is a brief report on the company on my sister blog: SumanSpeaksPlus
Relentless selling in going on Western India Shipyard Ltd (Rs.2.75) and Jai Balaji Industries Ltd (Rs.26.40) as if both the companies are going to close down. What an irony!! According to my assessment, while the former can fall upto Rs.2.60 in the short term, the latter, can correct to Rs.23.50 in the short term. Therefore you can take your buy or sell call decisions accordingly. There is no  need to panic, as both shipping and steel sectors are going to benefit, in the coming days, due to pragmatic government policies. 
Richa Industries Ltd a company into textile and construction, today moved to Rs.22.75, before closing at Rs.22.30. This is a solid company with FY14, EPS of around Rs.4.22. The scrip is trading very cheap compared to its peers. It is also a dividend paying company. 
Surprisingly the shares of Shiv-Vani Oil and Gas Exploration Ltd came down to Rs.21.60, when the crude price is moving  up due to escalation of the crisis in Iraq. The scrip should be accumulated on all declines. 
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