Thursday, February 26, 2015

Western India Shipyard Ltd, an ABG Shipyard group company today hit the 2nd consecutive 20% buyer freeze. The company has a huge open space (sea facing) which can be used for commercial exploitation. Moreover, any positive development on the mining front will be directly proportional for the company. There were earlier media reports that the government of India might lower export duty for low grade iron ore fines. Once the iron ore exports start, the Mormugao port will become very active again. Western India Shipyard Limited (WISL), India's largest composite ship & rig repair facility in the private sector, is one of the world's advanced multi-dimensional and multi-purpose yard offering modern, streamlined, sophisticated ship & rig repair facilities and industrial services.WISL is strategically located at Mormugao Port Goa along the west coast of India. The scrip could touch Rs.4.5-5, in the short to medium term--stay invested. 
Today, two buy calls were initiated to the Premium Group members: (i) GMR Infrastructure Ltd at Rs.18 for a short term target of Rs.22 and (ii) Sudar Industries Ltd (formerly Sudar Garments Ltd; BSE Code:533332) at Rs.25-26 for a short term target of Rs.32. The first one was recommended on the optimism surrounding the infrastructure sector in the coming budget and the 2nd one was selected based on pure fundamentals. Also, there are hopes that the FM will bring in some measures to shore up the companies in the textile space, in the coming budget. In case of Sudar Industries Ltd the percentage of Deliverable Quantity to Traded Quantity was 50.40%. Meanwhile, there were media reports that GMR Ltd is likely to develop India's largest toy Hub in Kakinada. Kakinada SEZ Private Limited, a subsidiary company of GMR Infrastructure Limited provides land on lease including building and other facilities to different businesses in the ordinary course of its business. There were earlier reports in the media, that the finance ministry has sought public comments on far-reaching recommendations, such as tax breaks and lenient regulations for financial firms in the SEZs, made by the National Institute of Public Finance and Policy (NIPFP). The Business Today wrote on February 13, 2015: 
The Commerce Ministry has sought a re-look at the taxation regime for the special economic zones (SEZs) in the forthcoming Budget , scheduled to be presented on February 28, to boost exports and investments.
In its Budget proposal, the Commerce Ministry wants Finance Minister Arun Jaitley to discontinue minimum alternate tax (MAT) and dividend distribution tax (DDT) imposed on SEZ units and developers respectively, a senior official said. Earlier too, the Commerce and Industry had recommended the restoration of original exemption from MAT and DDT to SEZ developers and units, but the Finance Ministry has rejected that
The blue-chip real estate company, which is also into affordable housing, Unitech Ltd closed above the psychological level of Rs.18.40, after touching an intra-day high of Rs.18.75 in the BSE. The scrip would be moving towards Rs.22-24, in the coming days. 
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