(a) Buy Rajesh Export at around Rs.756, SL: Rs.744, T: Rs.778-789 on T+2 basis. It is a gold manufacturing company headquartered in Bangalore, India. The company produces more than 35% of the world’s gold. It is also the largest Indian gold exporter. The festive season, is likely to increase the demand for gold jewlery. However, this is a short term call as according to a recent media report, India's gems and jewellery exports is likely to decline by a staggering 30% in the financial year 2017-18 due to unfavourable government regulations and trade restriction from the Gulf countries.
(b) Buy Reliance Industries Ltd at around Rs.821-822, SL below Rs.810, T- Rs.834 on T+1 basis. Very recently, the Telecom Regulatory Authority of India (TRAI), more than halved the interconnect usage charge (IUC) to 6 paise a minute from the current 14 paise and said it would be brought down to zero paise from 2020. In such circumstances, RIL’s telecom arm Reliance Jio is likely to create more disruption in the sector as the order by TRAI will leave it with piles of cash while hitting finances of its rivals.
5. Profit booking was suggested in Abn Offshore Ltd to the Premium Group members, last week at around Rs.195--192, the stock today is now trading at around Rs.178, the recommended buy price.
6. Profit booking was suggested in Jaiprakash Power Ventures Ltd, at around Rs.8, saying that it may not go above Rs.8.20, a couple of weeks back in this blog. The stock hit the Lower Circuits today at Rs.7.15.
7. The stock of Jaiprakash Associates Ltd (J P Associates Ltd) may fall to to Rs.13. So, if you entered at around the recommended price of Rs.7-8 and have still not booked profit, please do it now at around Rs.18.
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