Thursday, August 25, 2016

(i) Those who have entered Shrenuj & Co Ltd can continue to hold with a SL of Rs.1.95 (which is not likely to break). The company is having an office in a posh location in Bandra, Bombay. Most of the directors are overseas scouting for funds. The consortium of lenders are co-operating and soon a debt restructuring news might come in the media. The next target is Rs.3.05.

(ii) Those who are holding the shares of JSW Energy Ltd (Rs.78.50) can continue to add on declines. With its latest 500 megawatt power plant purchase, JSW Energy’s capacities have almost doubled from three years ago. JSW Energy Ltd comes under infrastructure space. 

(iii) The investors can continue to add the shares of Unitech Ltd (Rs.5.30) on all declines, as the ensuring festive season, is likely to give the required buoyancy to the real estate sector. Moreover, the company's annual report would probably be ready by 12 September, 2016.

(iv) Today, most of the shares in the infrastructure space (especially those who are into Railways) are up, after the Committee on Economic Affairs at the Indian Government approved nine projects estimated at Rs.24,374.86 crore, envisaging expanding the railway network in 9 states of India, Zbusiness reported. As a result of this IVRCL Ltd (Rs.4.95), Reliance Infrastructure Ltd (Rs.610), Lanco Infra (Rs.4.50), Reliance Defence Ltd (Rs.65.50), etc are all up today.  Anil Ambani-led Reliance Defence and Engineering Ltd (RDEL), formerly Pipavav Defence and Engineering Ltd, is focusing on providing integrated solutions for naval ships. It has also diversified into design and development of naval weapons and sensors to provide combat suite which costs about 50 to 60% of the platform costs.

(vi) The shares of Bharat Heavy Electricals Ltd (Rs.138) are now trading above Rs.137 and hence can be accumulated before the results.

(vii) Adani Enterprises Ltd (Rs.74.70) is finding difficulty to cross the resistance zone of Rs.75-77. Therefore, for the time being avoid the counter.

(vii) The investors can accumulate the shares of Gitanjali Gems Ltd (Rs.46), for short term targets of Rs.55-61.
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