|Photo: The Economic Times|
3. Those who have entered JSE Energy Ltd (Rs.62.25) yesterday at around Rs.60.80, can continue to hold with a SL of Rs.59. Recently, there were some positive developments in the company.
4. Buy Hindustan Oil Exploration Ltd at Rs.72.70, T: Rs.78-82, SL: Rs.68.60. The Union Cabinet’s decision on Wednesday to grant extension to production sharing contracts for 10 blocks will benefit Cairn India Ltd (CIL), Oil and Natural Gas Corporation (ONGC), Essar Oil, Focus Energy, Hindustan Oil Exploration Company (HOEC), and Gujarat State Petroleum Corporation Ltd (GSPC).
The contracts for these pre-NELP (New Exploration Licensing Policy) exploratory blocks will be extended for 10 years from the expiry of their contracts. The move, the government said, will help accelerate indigenous production of hydrocarbons from existing blocks and act as a progressive step towards achieving the target of 10 per cent reduction in import of crude oil by 2022.
5. Those who have entered the turnaround infrastructure major, IVRCL Ltd (Rs.5.20), can look for targets of around Rs.7-8, in the coming days. IVRCL Ltd is now basically (majority stake) owned by a consortium of lenders (Banks), hence accumulated debt is no longer a big problem. However, what seems to be a little bothering is working capital requirements.
Moreover, since the conversion price is around Rs.8.765 (~Rs.9), hence the scrip is likely to move towards this new found datum.