MARKET MANTRA

Veer Energy and Infrastructure Ltd (Face Value: Re.1 and not Rs.10) today touched Rs.4.54 and is now trading at around Rs.4.40. The traders who have entered earlier can book some profits and wait for the scrip to stabilize, before taking a fresh entry. The long term investors however can hold the scrip with a SL of Rs.4.20. 

Today's Call: (i) Buy Gitanjali Gems Ltd at Rs.52.70, for a target of Rs.61-62. With the marriage season commencing, the demand for Gems and Jewelries are set to increase in the coming days. Meanwhile, there were media reports that Gitanjali Gems Ltd. (GITG), India’s largest jeweler by revenue, has registered three new trademarks in that country, the Rapaport Report diamond news website reported. The three new trademarks, approved Dec. 22, are “Gitanjali Jewels,” “Giganjali Group,” and ‘Gitanjali Trust Forever,’’ according to the Rapaport Report. The Mumbai-based company said in its application that it has used the terms since July 2011, according to the diamond-industry trade publication. Gitanjali Group was founded in 1977 as a diamond-cutting and polishing operation and has since grown into a diamond and jewelry company, according to the Rapaport Report.
(ii) Buy Mangalore Refinery And Petrochemical Ltd at Rs.49.70-50, for a target of Rs.61-62, in the short term. The medium term target for the scrip is Rs.80. SL-Rs.46.50.