Wednesday, February 25, 2015

Market Mantra
Unitech Ltd today moved to Rs.18.60 intra-day and is now trading around Rs.18.10. This company will be one of the biggest beneficiarires of the government of India's thrust in the AFFORDABLE HOUSING segment. 
Western India Shipyard Ltd, a group company of ABG Shipyard Ltd today hit 20% upper circuits today at Rs.2.2. 
Jindal Saw has fallen to some interesting levels at Rs.76.70 from where accumulation can be done for a target of Rs.92-97. 
Resurgere Mines and Minerals Ltd hit the upper circuits in the NSE at Rs.2.20 and is now trading now trading at that level only. The scrip is moving up due to sudden change the sector outlook. There are media reports that the government of India could reduce export duty on low grade iron ore fines and bauxite.  Though the exchanges has sought a clarification on the share price movement but it is obvious that the scrip is moving up or has moved up due to positive sentiment in the mining sector. Hence, whether the company says it has any undeclared insider news or not, it is unlikely to have any effect on the share price. Meanwhile. there are media reports that Indian exports of iron ore saw huge decline during the initial ten-month period in 2014. The iron ore exports from the country fell sharply by 26.2% during the period from January to October last year when compared with the previous year. This further raises hope that the government might reduce export duty at least on low grade iron ore fines. 
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