Thursday, May 21, 2015

The Nifty as expected turned bullish since yesterday. The resistance of 8390, was covered today, as FIIs started buying again, amists the rumours that there is a mutual ceasefire, agreement between the government and the FIIs in matters of "TAX TERRORISM". It was basically due to this episode and the NDA's government's directionless economic policies, which spooked the FIIs. However, with Narendra Modi, returning to the Indian soil, after burning a hole in the economic map of India; hopes are being whipped up, that he would now concentrate on the domestic reforms more. Narendra Modi is a rustic-hard-working Indian. However, he neither has the intelligence nor has much idea how to run the economic landscape of this country. His speeches are not only substandard but sometimes laced with only self-praise. His finance minister, Mr.Arun Jaitley, is equally inapt and amateur. The markets moved up due to some unrealistic expectations from the Narendra Modi government, which got diluted as the "Real Modi" unfurled from the ramparts of Red Fort.  However, most of us never thought that persons like Arun Jaitely would be FM and Smriti Irani would occupy the HRD ministry in Narendra Modi's government, leaving the stalwards, like Dr.M M Joshi, Mr.L K Advani, Mr.Arun Shourie, etc. This proves that Narendrfa Modi is a snob and rewards his blind followers. Moreover, this is the same Modi-Jaitley-Sushma Swaraj combination, who opposed FDI in retail and insurance, only to take a U-turn later. 
Today, was the day of Rolta India Ltd. The scrip moved to Rs.121, intra-day before closing at 120.05 up 4.48%. The next target for the scrip is Rs.125.
Today, Gammon Infrastructure Projects Ltd was recommended to the Paid Groups at Rs.11.74. The scrip moved to Rs.11.95, intra-day before closing flat at Rs.11.58. The short term target for the scrip is Rs.15. It is in talks with Mumbai Port Trust to start roll on-roll off operations and putting the Indira Container Terminal project to alternative use.  Meanwhile, the company has  posted consolidated Jan-Mar net profits at Rs.73.77 mln  as against loss of Rs.405.61 mln a year  ago. It has come out with  net sales of Rs. 2.08 bln in Q4FY15, up 1.1%  Y-o-Y  basis. 

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