Todays Calls
1. Buy UCO Bank at Rs.37.45, T: Rs.39-41. In a significant development, lower provisions has
helped Uco Bank to cut losses by a third to Rs.437 crore for the December quarter, compared with Rs.1497 crore loss in the year ago period. Banks are a proxy to any economy, therefore after demonetisation fiasco, as the economy gathers steam, Banks are set to do well.
2. The share of Reliance Power has achieved my 1st target of Rs.47 (Rs.47.70, intra day high) , you can book some profits and hold the rest with a SL of Rs.46.40, for the next target of Rs.51.
3. As the RJio's Free service comes to a halt, we can look forward for higher targets for Reliance Communications Ltd (Rs.38.25). After demonetisation fiasco, the economy has started to.pick up, and the retail sector is slated to do exceptionally well.
4. Those who are holding my recommended SBI (Rs.272.30), from Rs.160-162, can continue to hold with aSL at Rs.246. However long term investors need not put a SL as the worst seems to be over for the banking sector. The stock of SBI is likely to cross Rs.300 soon.
5. Considering the recently published India's GDP data as fudged, even a 5% growth during Q3FY17 should be good; on those harsh situations. Now, that the banks are flush with funds, we could look forward for good GDP growth, provided the Narendra Modi's government does not manufacture another demonetisation like self goals.
Bank results in the December quarter are significant as they have just come out of demonetisation and are just a quarter away from recognizing bad loans under RBI’s AQR.
2. The share of Reliance Power has achieved my 1st target of Rs.47 (Rs.47.70, intra day high) , you can book some profits and hold the rest with a SL of Rs.46.40, for the next target of Rs.51.
3. As the RJio's Free service comes to a halt, we can look forward for higher targets for Reliance Communications Ltd (Rs.38.25). After demonetisation fiasco, the economy has started to.pick up, and the retail sector is slated to do exceptionally well.
4. Those who are holding my recommended SBI (Rs.272.30), from Rs.160-162, can continue to hold with aSL at Rs.246. However long term investors need not put a SL as the worst seems to be over for the banking sector. The stock of SBI is likely to cross Rs.300 soon.
5. Considering the recently published India's GDP data as fudged, even a 5% growth during Q3FY17 should be good; on those harsh situations. Now, that the banks are flush with funds, we could look forward for good GDP growth, provided the Narendra Modi's government does not manufacture another demonetisation like self goals.
Bank results in the December quarter are significant as they have just come out of demonetisation and are just a quarter away from recognizing bad loans under RBI’s AQR.
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