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Domestic bourses ended with slight losses on Friday, pulled down by banks and financials stocks. The S&P BSE Sensex lost 143.36 points or 0.39% to close at 36,594.33. The Nifty 50 index fell 45.40 points or 0.42% to finish the day at 10,768.05. The Nifty would continue to get support around 10600/10700 ranges. 

In the broader market, the BSE Mid-Cap index slipped 0.72% while the BSE Small-Cap index shed 0.35%.

The market breadth was weak. On the BSE, 1000 shares rose while 1663 shares fell. A total of 170 shares were unchanged.

#The shares of Spandana Spoorty Financial Ltd (Rs. 668.45), should meet the immediate resistances at Rs.690/700, ranges, where you need to book some profits and hold the rest with a SL at Rs. 670.

#If you want to make few lakhs and why not,  even few Crores of rupees in matter of few years, through Forsage, by investing only with an minimum investment of Rs.1500, then please do send me a mail at: suman2005s@gmail.com. 
Forsage is now a world wide craze and it shows how will little effort of referral, an investor with a tiny fund, can aspire to become a Crorepati. However, if you can't do networking then also you earn by buying slots, and money starts to flow in those slots on a regular basis. In such cases, you have to invest around Rs.8000, in Forsage to buy Eutherium in various slots, depending upon the price of Eutherium. If any day, you want to exit, just sell your Eutherium and exit the scheme. 
So,  don't waste your time, procrastinating, send me a mail immediately to join Forsage, Whatsapp group to understand the pros and cons of the scheme, before investing your hard earned money. 

• To get more information on this CLICK HERE

#The shares of J Kumar Infra Projects Ltd (Rs.98.10), would get support at Rs.97 and is likely to move up, following easing of Sino - Indian border skirmishes.  The next target is Rs.107.
Anand Rathi has given buy rating to J Kumar Infraprojects with a target price of Rs 144. With migrants labour returning and schools in Maharashtra likely to commence operations, fron September this year, the worst seems to be over for the company
The brokerage house, 

#The shares of Williamson Magor & Company Limited (Rs.17) is consolidating around the current ranges, before charting its next upmove. This Rs. 10, FV share is available at a bargain price at the CMP.  The scrip would get support around Rs.16.80/16.70. Accumulate on declines.

#Texmo Pipes and Products Ltd (Rs.14.65) is consolidating around the current ranges before the next upmove.
Texmo Pipes and Products Limited is engaged in the production of pipes and fittings. The Company's principal products/services include plastic products.
The Company's products include rigid PVC pipes, agriculture fittings, PVC elastomeric pipes, casing pipes for tube well, conduit pipes, plumbing pipes and fittings, SWR pipes, SWR fittings, CPVC pipes, submersible column pipes, suction hose garden pipes, drip irrigation systems, HDPE pipes, HDPE ID pipes, PLB HDPE duct, HDPE sprinkler pipes, sprinkler fittings, LD (Krishi) pipes and solvent cement. The Company also offers products, such as CPVC Pipes, Molded Fittings of PVC and SWR, DWC Pipes and Drip Inline.
The Company's production capacity is 75 million tons per day. The Company's subsidiaries include Texmo Petrochemicals LLP and Tapti Pipes & Products Limited FZE

PVC pipes are used in various commercial and industrial sectors including chemical industry, electronics, semiconductors, food and beverage, marine, mining, agricultural, steel processing, and wastewater treatment plants. 

These pipes are majorly used in the underground supply of potable water, in sewer and drainage systems, for irrigation, medical devices, and others. They are being commercially used in infrastructures including banks, health care facilities, airports, marine systems, resorts, office buildings, amongst others. 

PVC pipes are also used in various pressure systems in building service lines, site utility systems, reclaimed and gray water systems, turf irrigation, and among others. Some of the factors which may help the companies firm up its fundamentals are:

• The growing application base, along with rapid urbanization and industrialization, is contributing to the growth of the India PVC pipes market. 
• The Government of India is currently focusing on the development of the economy by increasing its spending and in turn facilitating the growth of several sectors. The government is proposing several schemes and plans such as Pradhan Mantri Awas Yojana, Pradhan Mantri Krishi Sinchai Yojana toward the development of infrastructural facilities. Such plans are also expected to support the growth of the India PVC pipes market.
• The company's products are mostly used in irrigation, Water Supply, Sewerage, Plumbing, Oil & Gas, HVAC, and Others, where green shoots are being seen post hereto, good monsoon rains. 
• Upsurge in the demand for pipes in the irrigation sector and building & construction industry is the major driving factor for India PVC pipes market. Moreover, increased focus of government on rural water management supports the demand for PVC pipes in India. 
• The rise in awareness towards clean water supply in rural areas and increase in investment in the developing regions of the country are anticipated to offer growth opportunities for the market of Company's product. 
• Till now, the company's products are mainly sold in the states of Madhya Pradesh, Maharashtra, Uttar Pradesh, Gujarat, Andhra Pradesh and Rajasthan, but according to unconfirmed sources, the company is thinking to venture into eatern India owing to abundant cultivation of tea, where company's products may find use. 
• The rise in population is expected to be a major contributor to demand pull off company's products in India through increase in demand for housing. 
• Growing problems of water shortage will also lead to increase in demand for PVC pipes and other products of the company. 
• The market for plastic pipes and fittings in India is in its growth stage, growing at double digit CAGR during FY’2013 – FY’2018. The market poise for compelling future opportunities with increasing investment by the government in agricultural projects and welfare of farmers. Schemes and programs such as PMKSY (Pradhan Mantri Krishi Sinchayee Yojana) will increase demand for irrigation systems to be installed in farms and fields, resulting in increase in demand for its products. 
• It has also been anticipated that both urban and rural areas in India are likely to suffer from water shortage problems due to erratic rainfall patterns and decreasing natural sources of water. This will lead to the construction of more borewells across the country to draw groundwater, leading to increase in demand of its products. 
• The demand for irrigation equipment goes up ahead of and during the monsoon. 
• Recently, 17 countries had set targets to phase out internal combustion engine vehicles. This means the price of crude oil is not going to shoot up too high. 

Conclusion: The India PVC Pipes Market size was valued at $3,159 million in 2016 and is anticipated to expand at a CAGR of 10.2% to reach $6,224 million by 2023. 

Polyvinyl chloride (PVC) is the third largest selling plastic commodity after polyethylene & polypropylene.

Therefore buy the shares of Texmaco Pipes and Products Ltd near the CMP, for double return.

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When this report is being written, the  BSE Sensex was seen at 36,552.07 down 185.73 points (-0.51%) while Nifty was trading at 10,753.20 do an 55.35 points (-0.56%). This market is purely driven by liquidity and hence there is a disconnect with the fundamentals of Indian economy. The Nifty would continue to get support around 10700, especially, post de-escalation of the tensions at Sino -- Indian border. 

#My recently recommended Spandana Spoorty Financial Ltd hit its 3rd consecutive buyer freeze today at Rs.671.80. The scrip was recommended around Rs.551 in this blog. Accumulate in every declines. 

#Buy the shares of Texmo Pipes and Products Ltd near Rs.14/15, for short term targets of Rs.17/18. It is a Rs.10 face value share with book value at Rs.57.49.
The pipe manufacturing sector should do well as the NDA government has stepped up its efforts to optimize water supply for irrigation and infrastructure spaces. 

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Photo: The Economic Times 

The Indian bourses maintained their winning run for the fifth consecutive session, yesterday. The S&P BSE Sensex moved up by 187.24 points or 0.51% to end the day at 36,674.52, while the Nifty 50 index gained 36 points or 0.33% to close at 10,799.65.

Some of factors which is believed to have helped the upward march of Nifty could be:

• Easing of lockdown restrictions, across India. 
• Impressive recovery rate of patients from Coronavirus,
• The expectations of a Covid -19 vaccine coming up soon,
• Decent Q1 operating performance by banks,
• Progress of monsoon across the country. Surplus rainfall is good for kharif season, sowing for which is currently underway.
• Signing of $750 million agreement by the World Bank and the Government of India for the MSME Emergency Response Programme to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs), which were severely impacted by the COVID-19 crisis,
•  Rebound in U.S. services industry activity in June and expectations of a gradual revival of China's economy, apart from D escalation of Sino  - Indian border skirmishes. 

In the five consecutive sessions, the Nifty has risen 4.83% and the Sensex has risen 5.04%.

In broader market, the BSE Mid-Cap index rose 0.58%, while the BSE Small-Cap index moved up by 0.57%. Both these indices outperformed the Sensex.

However, the market breadth was negative. On the BSE, 1339 shares, while 1379 shares fell. A total of 163 shares remained unchanged on the BSE.

#The shares of Spandana Sphoorty Financial Ltd (Rs.577.50) moved to Rs.588.85, intraday. Accumulate the shares of declines, for the targets mentioned in the earlier post. 

#The scrip of Gujarat Narmada Valley Fertilizers & Chemicals Ltd (Rs.160.25) yesterday, moved to Rs.163.90, completing the 1st target. You must have booked some profits.

#If you want to make few lakhs and why not,  even few Crores of rupees in matter of few years, through Forsage, by investing only with an minimum investment of Rs.1500, then please do send me a mail at: suman2005s@gmail.com. 
Forsage is now a world wide craze and it shows how will little effort of referral, an investor with a tiny fund, can aspire to become a Crorepati. However, if you can't do networking then also you earn by buying slots, and money starts to flow in those slots on a regular basis. In such cases, you have to invest around Rs.8000, in Forsage to buy Eutherium in various slots, depending upon the price of Eutherium. If any day, you want to exit, just sell your Eutherium and exit the scheme. 
So,  don't waste your time, procrastinating, send me a mail immediately to join Forsage, Whatsapp group to understand the pros and cons of the scheme, before investing your hard earned money. 
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#The stocks of Panacea Biotech Ltd, moved up to Rs.196.85, intraday, before closing at Rs.190.50, in the NSE. However, the scrip is not performing as expected. Exit out, during intraday rise, with slight profit or loss or no profit. Call closed.

#My recently recommend Shreyas Shipping & Logistics Ltd (Rs.65.15), is consolidating around Rs.63/67. The investors, should accumulate in market declines, with SL,  mentioned earlier. Shipping sector is doing well even during Covid - 19 catastrophe.

"#Buy the shares of Williamson Magor & Company Limited, near the CMP of Rs.17.80, for short term targets of Rs.25/41. SL: Rs.14.
The Maharashtra government has allowed hotels to reopen with 33% capacity from 8 July. This is a positive development for all the tea and beverage companies.

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Photo: P R Newswire 

Domestic bourses continued their forward march  for the fourth straight session on Monday, taking cues from positive global cues.

The S&P BSE Sensex rallied 465.86 points or 1.29% to close at 36,487.28, while the Nifty50 surged 156.30 points or 1.47% to end the day at 10,763.65. Both these indices have seen a rise of about 4.50% in four trading sessions.

Meanwhile, the sentiments of investors strengthened after the media reported that India and China have begun a disengagement from the face-off sites in the Galwan Valley and Gogra-Hot Springs areas of eastern Ladakh.

In the broader market, the BSE Mid-Cap index rose 1.27%, while the BSE Small-Cap index gained 1.30%.

The market breadth was strong. On the BSE, 1,634 shares rose, while 1,157 shares fell. On the BSE a total of 189 shares remained unchanged.

#My recently recommend MBL Infrastructure Ltd hit another buyer freeze yesterday at Rs.6.40. Keep adding on declines and see if it is able to cross the resistance zone of Rs.7/7.50 or not. 

#The shares of Spandana Sphoorty Financial Ltd (Rs.561) consolidating around Rs. 550/577. Accumulate on every dip. 

#The scrip of Gujarat Narmada Valley Fertilizers & Chemicals Ltd (Rs.158.15) yesterday made a high of Rs. 160.40, almost touching the 1st target of Rs.161. This is an excellent company, in the fertiliser space. The long term investors should accumulate, with a trailing SL of 5/10%, depending on the risk appetite.

#The stock of Reliance Infrastructure Ltd (Rs.38.50) and Reliance Capital Ltd (Rs.12.65) tanked (hit lower circuits) after my sell call on the ADA group companies.

#Buy the shares of Panacea Biotech Ltd at around the CMP of Rs.196.40, for short term of Rs.239/241. SL: Rs.179.
In June,  this year there were media reports that ndia-based Panacea Biotec has partnered with Refana USA for the development, manufacturing and distribution of a Covid-19 vaccine candidate worldwide. The report further added that the aim will be to manufacture more than 500 million doses of the Covid-19 vaccine candidate, with more than 40 million doses, and is expected to be available early next year.

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The domestic share markets ended the day with with modest gains. The bank shares saw correction, while the Bulls fell in love with IT sector.

On the  global frony US payrolls data was encouraging and data showed that a pick up in  Chinese service sector activity. 

However, a surge in coronavirus cases jolted the strong marching of the bulls.  

The Nifty has a strong resistances at 10750/10900. But as mentioned in my earlier post, the Nifty will get support at 10485/10450/9700.

#The operators have minted lot of money by posting videos on YouTube, which indirectly said that Mukhesh Ambani is likely to take over the ADA group companies; as if there are no minority shareholders to oppose the move. Riding this news, the share of Reliance Infrastructure Ltd (Rs.40.40) shot up from around Rs.8.65 to Rs.44 - plus in the last few months. Similar is the case with many other ADA group companies. Stay away!!

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• DTH Recharge,
• Land Line Bill Payment, 
• Electricity Bill Payment, 
• Gas Filling, etc. 

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Also, if you want to join Forsage and accumulate Eutherium through cooperative methods, you can send me a mail. If you can influence, around 100 people with strong networking skills, to join the Forsage business, then your work is over. 

#You may initially conclude that my recommended Gujarat Intrux Ltd (Rs.76.60) is Incorrigibly un-sexy, but I definitely guarantee you returns, from this scrip, over a period. At present, the Company is engaged in manufacturing and supply of Stainless Steel, Non - Alloy Steel and alloy steel Castings.

Increased production of light vehicles, worldwide is acting as a key growth driver for the global foundry market. This growth in production of light vehicles is expected to increase the global demand for new cast metal parts. , Also, the replacement of old metal casting products with more energy efficient metal casting solutions, is likely to spike up demands for the company's products.

There are reports that the rural demand for auto sector is slowly picking up.

#Buy the shares of Gujarat Narmada Valley Fertilizers & Chemicals Ltd (Rs.154.40) for short term targets of Rs.161/166. Good monsoon and a pick up of rural demand is good for fertilizer companies. 

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Photo: India TV

Yesterday, the domestic bourses rallied taking positive cues from global markets, on the increasing optimism for a safe and effective COVID-19 vaccine.

The S&P BSE Sensex rallied 429.25 points or 1.21% close at 35,843.70,.while the Nifty50 jumped 121.65 points or 1.17% to end the day at 10,551.70.

HDFC (up 2.95%) and Reliance Industries Ltd (up 1.30%) were major index movers.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 5.74% to 26.50.

The BSE Mid-Cap index rose 1.04% and the BSE Small-Cap index gained 0.92%. However, both these indices lagged the Sensex.

On the BSE, 1,719 shares rose while 1,044 shares fell. A total of 127 shares remained unchanged.

#Kolkata headquartered  MBL Infrastructure Ltd, closed at Rs.6.24 up 3.14%. The Rs.10 face value shares have a book value of around Rs.68.75 and market cap of Rs.65.37 crore. It will soon cross Rs.10. Keep accumulating. 

#The shares of ONGC yesterday moved to Rs.84.15, intraday before closing at Rs.81.85. The rising price of crude oil and increased optimism in the auto sector, augurs well for the company. Very recently a well known company said both the rural and urban demand has started to pick up steam. 

#If you want to do a recharge of Rs.700 and get the benefits of Rs.2100, plus a chance to earn Rs.54 crores, do send me a mail at: suman 2005s@rediffmail.com/sumanm2007s@gmail.com. The money (Rs.2100) can be used to do any form of recharrge:

• Mobile Recharge, 
• DTH Recharge,
• Land Line Bill Payment, 
• Electricity Bill Payment, 
• Gas Filling, etc. 

You have the liberty to use Rs.2100, in two years and also can recharge any mobile having the SIM of any service provider. 

#My recently recommended Prime Property Development Corporation Ltd moved to Rs.11 before closing at Rs.10.84, up 8.40%. The stock will soon move to Rs.15. Do, you know that it is a debt free company? 

#Buy the shares of Gujarat Intrux Ltd near the CMP of Rs.79.30, for short term targets of Rs. 91/96. SL: Rs.71.
The promoters have increased their stake in the company. Also, it is almost debt free. It feel from the level of around Rs.151, made during September  - October last year. Hence, there is chance of 100% appreciation from the CMP.

#Join my new Twitter account at Click Here. This was necessitated as my earlier Twitter account got hacked and had to be abandoned. 

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Yesterday, the Indian stock markets closed with good

gains. The BSE Sensex closed at 35,414.45 up 498.65 points (+1.43%) while the Nifty ended the  day at 10,430.05 up 127.95 points (+1.24%). 

In my last post I mentioned the Nifty to trade around 10200/10500 ranges. Today, the Indian bourses could try to get out of the  current ranges. 

Meanwhile, Reliance Jio has sought Government permission for lab tests of its 5G products. Piggybacking on Huawei, China continues to dominate the global 5G market, accounting for 46% of the sale of all such devices in 2019. Huawei’s edge comes from its competitive prices, though it's mired in controversies. It's estimated that 5G deployment in Europe might cost $62bn more if Huawei is excluded. The RIL (Rs.1737.60) share is buzzing due all such positive developments in the company. In the short term the scrip can move up-to Rs.1750.

#The stock of National Fertilisers Ltd (Rs.31.50) touched my 2nd target of Rs.32, when it made an intraday high of Rs.32.85. You can bIfook complete profit and look for dips to re-enter. 

#Buy the shares of MBL Infrastructure Ltd (Rs.6.15) between Rs.5.50/5.70. 

#You can start accumulating the shares of Spandana Sphoorty Financial Lt at the CMP of around Rs.547.35, for short term targets of Rs.600/660.
When the whole of the Banking sector is buzzing on the hope of improvement of Indian economy, the NBFC sector can't be far behind. It offers Joint Liability Group (JLG) loans, Loans against property and personal Loans, among others. SL: Rs.496.

#Vodafone Idea Ltd (Rs.10.15, F.V.-- Rs.2), posted a loss of Rs.11,643.5 crore for the fiscal fourth quarter -- its seventh successive three-month period in the red, due to  loss of subscribers, high finance costs and a one-time charge related mainly to its statutory dues. 

However, the speculative activities in the counter might continue.

#You can continue to accumulate the shares of ONGC near the CMP of Rs.80.40, for short term targets of Rs.92/96.

According to DGH, India's latest oil and gas block bid round attracted only 12 bids for the 11 areas on offer, with 10 of them getting single bids from the ONGC and Oil India Ltd.

#The shares of Prime Property Development Ltd (Rs.10.10) can be accumulated near the CMP for short term targets of Rs.15/17.
The Company's projects include Prime Pune Mall, Prime Square, Prime Tech Park, Prime Beach, Prime centre, Prime Plaza and Prime Avenue. Sea-King club Pvt. Ltd is it's subsidiary. At present, no loans are outstanding from any bank in the name of Sea King Club Private Limited.

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Photo: Indiainfoline

The BSE Sensex yesterday closed at 34,961.52 down 209.75 points (-0.60%), while the Nifty50 closed at 10,312.40 down 70.60 points (-0.68%). The ongoing Sino - India border skirmishes weighed on the investors' sentiment, apart from the nagging Covid - 19, issue. Moreover, weakness in banks and IT shares also put pressure on bourses.

In the broader market, the BSE Mid-Cap index slipped 1.39%, while the BSE Small-Cap index fell 1.23%. Both these indices underperformed the Nifty. 

The market breadth was negative. On the BSE, 1,142 shares rose, while 1,643 shares fell. A total of 141 shares remained unchanged.

As mentioned earlier, the Nifty is likely to consolidate around 10200/10500 ranges, till a more clearer picture come out of the Covid - 19, pandemic.

#You can continue to hold on to your short SAIL (Rs.29.55) for short term targets of Rs.28/27. The ensuring monsoon season and a near breakdown of the real estate sector is likely to have a severe  effect on the fundamentals of  steel companies.

Photo: Rediff.com

positions in

#Speculative Buy: ARSS Infrastructure Ltd (Rs.15.58) during intraday dips for short term targets of Rs.19/21. SL: Rs.13. If you remember, I had recommended the scrip several times earlier,  too.

#In the US,  the bank,  plummeted after the Federal Reserve limited dividend payments and barred share repurchases until at least the fourth quarter following its annual stress test.

In India too, the banking sector is not in a good shape. The rise in the prices of Bank shares, are a disconnect from the reality. I'm expecting the Bank Nifty (21359) to go down, and break the support at 21101.50.

#Meanwhile, the NDA government on Monday banned 59 mobile apps, including China's TikTok, SHAREiT and WeChat, terming them prejudicial to sovereignty, integrity and national security. This is going to have some effect on the India IT sector, by giving its competitors greater business.

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Photo: India Infoline 

On last Friday you must have noticed that, a surge in buying occurred in the last hour, across all the sectors. 

As a result the BSE Sensex closed at 35,171.27 up 329.17 points (+0.94%), while the Nifty ended the  day at 10,383.00 up 94.10 points (+0.91%). The interesting point is that both the indices completed 61.8% retracement level and formed 

a Bearish Engulfing Pattern on daily candlestick charts. This may result in Nifty going in for a short term correction. However, any close above 10570, may give the bulls the next phase of ammunition. 

The NIFTY and BANKNIFTY saw positive weekly gains of +1.35% and 1.19%  respectively. On the other hand, both MIDCAP100 and SMALLCAP100 space outperformed their counterparts by rising +2.81% and +2.88% respectively. 

This week, while the PSU Bank sector is expected to cool down a bit, post whirlwind rally, the FMCG and IT could continue to show bullishness. I'm adding another sector, to the list: shipping and I'm recommending a scrip from this space. 

Foreign institutional investors (FIIs) sold shares worth Rs.753.18 crore, while domestic institutional investors (DIIs) bought shares worth Rs.1,304.18 crore in the Indian equity market on June 26, according to the provisional data available on the NSE.

Today Nifty might open gap down and stray till 10270 before showing any upmove. 

#Buy the shares of Shreyas Shipping and Logistics Ltd at around Rs.58/61 during intraday dips for short term targets of Rs.72/77. SL: Rs.52.
The implementation of Nationwide Lockdown did affect many activities, including the movement of people.
You must be aware that in India 95% of the cargo is exported and imported from the ports and hence the shipping and logistic sector has been less hit by this issue. Meanwhile, the Home Ministry, added port into essential activity list just a day after the lockdown was announced and then directed every port that labours should not leave the ports. The proactive steps taken by the NDA government, helped revive the business now,  which during the initial days of Lockdown went down by mere 20/25%.

#Sell the shares of Steel Authority of India Ltd (SAIL) at around the CMP of Rs.30.50, for short term targets of Rs.28/27. The approaching monsoon season is likely to cut the construction activities. Moreover, the closures of Railway services has obviously cut down the demand for wagons and other components, required in this sector.

#Those who have not bought the shares of ONGC on last Friday at around Rs.84, can look for dips at around Rs.79/80 today, to enter or average. The rising price of Crude Oil and restoration of normalcy in some of the Covid - 19 affected nations is positive for the company.

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Photo: Patrika.com

When I'm preparing this report, the the BSE Sensex was trading at 35,103.70 up 261.60 points (+0.75%), while the Nifty was seen at 10,370.10 up 81.20 points (+0.79%), as the board of the Securities and Exchange Board of India (Sebi) yesterday eased pricing framework for preferential allotment of shares, making it simpler for listed companies to raise money. According to the latest SEBI circular, two week average would be taken into consideration for 

pricing preferential share issue, apart from streamlining the operation, adding more teeth to it. 

In the broader market, the BSE Mid-Cap index was up by 0.54% while the BSE Small-Cap index rose 0.52%.

The market breadth was strong. On the BSE, 1551 shares rose, while 651 shares fell. A total of 113 shares remained unchanged. 

#My recent blog recommendation MBL Infrastructure Ltd (Rs.7.35) hit the 7th consecutive buyer freeze. Tihe stock is expected to cross Rs. 10 in the coming days. Today it gave a major breakout, which remains to be seen whether it can hold on to the gains -- the next resistance zone is around Rs.11.70/12. The stock fell from around Rs.315, it made during 2015/16 period. 

#The shares of Jay Kumar Infrastructure Ltd (Rs.101.15), is consolidating in the Rs.97/99 ranges,  for the next round of upmove which is likely to take at to Rs.11/117/121. 

Some of you have sent me queries asking about the projects the .company is handling and their Chinese connections. I feel at this stage both the countries are not prepared for the  2nd Sino - Indian war, though border sabre rattling may continue for some time. It is fundamentally strong company and those investors who have patience would be rewarded. Keep accumulating during market dips. 

#Buy the shares of ONGC at around the CMP of Rs.84.25, for short term targets of Rs.97/111. SL: Rs.76. Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved additional investment of $121.27 million by ONGC Videsh Ltd for further development of Block A-1 and A-3 blocks in Myanmar (Burma). According to the media reports the project has been generating positive cash flows since FY 2014-15.

The scrip of Oil And Natural Gas Corporation Ltd made a 52-week high of Rs 171.65 and a 52-week low of Rs 51.8.

#Today the stock of National Fertilisers Ltd made an intraday high of Rs.31 and achieved its 2nd target. You sould book complete profits and wait for the scrip to give a closing above Rs.32.

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The traders today got spooked by news of rising coronavirus cases across the globe and also on the news in a section of the media that China has increased the strength of its troops by 30% along LAC

There was also media reports that the risk-reward ratio is skewed firmly towards the negative for Reliance Industries Ltd (Rs.1731.15) shares after the run-up in stock price, says Foreign brokerage house Macquarie.

The Snsex fell 246.71 points or 0.70% to 35,183.72, while the  Nifty50 slipped 66.45 points or 0.63% to 10,404.55.

The market breadth however was positive. On the BSE, shares 1319 rose and 1307 dhares fell. A total of 134 shares were unchanged. 

Foreign portfolio investors (FPIs) bought shares worth Rs.168.96 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs.454.40 Cr. 

#The stock of Kolkata based infrastructure firm, MBL Infrastructure Ltd, hit the 5th consecutive buyer freeze today to touch Rs.6.75 in the NSE. There are news reports that Bengal is recovering from the Choronavirus outbreak, very fast. I'm expecting the scrip to cross Rs.10 in the coming days. 

Photo: Metro Rail News

#The scrip of Jay Kumar Infrastructure (Rs.99.70) today made an intraday high of Rs.106.80.

Jay Kumar Infrastructure and CRTG JV has resumed their work for the construction of 6.079 km long Swami Samarth Nagar - Shyam Nagar section. The civil construction work of value Is. 867.75 crore was awarded to the consortium on 7 August, 2019.

China Railway Tunnel Group Co Ltd (CRTG), a Chinese Construction firm, in a joint venture with J Kumar Infraprojects Ltd is building parts of Metro-2A (Dahisar-DN Nagar) and Metro-6 (Swami Samarth Nagar-Vikhroli).

The company last month released a statement to the stock exchanges stating that it had received a letter of acceptance (LoA) from Mumbai Metro Rail Project (MMRDA) for the construction of part design and elevated viaduct. The work is part of the balance work of package 1, line 7 elevated viaduct.

This excludes station viaduct, architectural finishing and pre-engineered steel roof structure of station. As per the construction terminology, the said project extends from chainage Ch (-) 525.903m (Pier P1E) to Ch (+) 5,801.297m (Pier P 278) Andheri (East)- Dahisar (East) corridor of Mumbai Metro Rail Project.

The company has an whooping order book of Rs.12,443 crore as of the end of third quarter of FY20, which translates nearly three times of its TTM revenue.

Despite such strong order inflows, the stock is trading below Rs.100 due to the fear of slow execution, owing to the nationwide lockdown. But since, we are now perhaps at the last stage of the nationwide Lockdown, the shares are likely to take off exponentially from here.

Its industry peer, Dilip Buildcon (Rs. 285.65) is trading at market cap, well below their annual sales.

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Photo: Just Dial 

Sensex soared 364.66 points or 1.04% at 35,275.98, while the Nifty50 index move up by 111.75 points or 1.08% at 10,422.95.

The BSE Mid-Cap index rose 1.49% while the  BSE Small-Cap index gained 1.41%. In the BSE, shares of 1,830 companies bore rose and 730 shares fell. A total of 140 shares remained unchanged. 

#Buy the shares of J Kumar Infrastructure Ltd near the CMP of Rs.99, for short term targets of Rs.127/131. SL: Rs.86.

#The shares of MBL Infrastructure Ltd hit 4th consecutive buyer freeze at Rs.6.45 in the NSE. The share price of the company should cross Rs.
10 in the coming days.

#The shares of Everest Kanto Cylinders Ltd hit another buyer freeze today at Rs.19.60. The  demand for company's products is likely to remain buoyant.

#The shares of National Fertiliser Ltd (Rs.29.70) today touched Rs.30.20, intraday. The share has doubled from the low it made post Covid - 19 Lockdown. This is an investment grade scrip. 

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Yesterday, the S&P BSE Sensex jumped 700.13 points or 2.09% at 34,208.05, while the Nifty 50 index rallied 210.50 points or 2.13% to close at 10,091.65; led by the shares of banks and metal companies.

Today, the Indian markets might remain a little subdued due to overall negative global cues and also due to the fact that Fitch Ratings has revised the Outlook on India's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the rating at "BBB-".

Another major concern is that the partially convertible rupee, though ended at 76.14, compared with its close of 76.16 during the previous trading session, is still threatening to cross 80 mark,  as Indian economy has slowed down considerably  due to continuous mismanagement by the NDA government and of course due to the outbreak of Covid - 19 pandemic. 

The markets could also get spooked by the disturbing Coronavirus - trends in several US states, including Florida and Texas, as well as a new outbreak in China and continuous increase in deaths in India and Brazil.

Having said this, I feel the Nifty would continue to hold Key support level for the Nifty is placed at 9,920/ 9,750 levels on the downside. 

And, stock specific activities would continue to dominate the proceedings in the Indian bourses.

On the positive side the Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) bought shares worth Rs.366.57 crore and Rs.1,131.27 crore in the Indian equity market on June 18, according to the provisional data available on the NSE.

Meanwhile, the small and mid cap space has become active once again. I would like to recommend one stock from this space, which I had suggested, a number of times earlier too. 

In another significant development, my old favourite and strongly recommended National Fertilisers Ltd (NFL Ltd) moved to Rs.29.20, yesterday before closing at Rs. 29. If you remember, I had recommended the scrip several times earlier in this blog and also in my Facebook group/page. And also to accumulate the share on every decline, especially when it fell below Rs.20. Congratulations to those who made money in this share. 

Those who have a portfolio size of around Rs.3/5 lakhs, may come to me for profit sharing scheme. Those who have lost money earlier, can also take my help to recover their losses.  But then they have to wait for at least one year to see some gains. 

A return of 25%/30% per annum is considered good ROI in equity market. Some come to me and want abnormal gains from equities in the short term, which is unfortunate. We need to do a fundamental play on companies and hold on for our targets with proper checks and balances. There will be losses on the way, but at the end there would be gains. 

Ludicrously, there is another group who would dictate terms and say my first priority is protecting capital, so no penny stocks (small and micro caps basically), but their face becomes dull if you can't generate 10%/15% monthly returns from investing in only large caps or at least in Nifty50. If protecting capital is their first priority with such abnormal gains, then they need to literally hire God, to manage the portfolios. 

What I do for my portfolio is to try to double in every two years, by a combination of small, large and mid caps. This has been my funda of success Since more than two decades, in the stock market landscape. It is pertinent to mention here that, it is not that every time I succeed but, I try my level best to achieve that goal. 

Anyway, those who have not bought the shares of Himadri Chemicals Ltd (Rs.46.20), may opt not to buy after Indian government decided to increase import duty on Chinese Goods.

Instead they may replace it with MBL Infrastructure  Ltd at the CMP of Rs. 5.65, for short term targets of Rs.11/12. The infrastructure sector (not real estate) should do a little better, during the Lockdown period. As mentioned above I had recommended this stock several times, earlier too. There is no need to place a SL as it is an investment grade scrip. 

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Photo: The Telegraph India

The current rebound in the Sensex and Nifty are  not reflecting what some believe is a stronger economy. Or in other words we shouldn't fall into the trap of associating economic activity with stock prices. This market is getting difficult to predict than in past recessions. Avoid being dogmatic in your outlook and trade with caution.

The peculiarity of this market is that as the economic data gets worse, traders get more aggressive in buying stocks. This is probably due to ample liquidity in the system. However, in case of India, in the Rs.20 lakh crore package announced by Narendra Modi, the stimulus part is only 1% of the GDP in contrast to a worldwide average of 4%.

We are hearing lots of commentary about how serious the COVID-19 economic slowdown will be. The IMF recently released a report predicting a -6% contraction in global GDP. This makes Covid - 19 triggered economic crisis as the worst recession since the Great Depression, and worse than the Financial Crisis of 2008. However, the Indian Stock Markets give a different picture.

The market experts are predicting several types of recoveries: V, U, L, J,  W, et al.  However, what I feel is that containment of the virus holds the first clue on the length of this recession and more importantly the shape of graph.

Anyway, when I'm writing this report the BSE Sensex, was up 200.68 points or 0.6% to 33,708.60. The Nifty 50 index added 74.40 points or 0.75% to 9,955.55.

The Key support level for the Nifty is placed at 9,810, ollowed by 9,730. On the upside the Nifty will face resistances at 9,980 and 10,100.

The market is up today, after World Health Organization (WHO) said signs of hope have begun to show in the fight against the COVID-19 pandemic, but it added that countries must continue to work on prevention measures to limit the spread of the new coronavirus.

#Today Everest Kanto Cylinders Ltd (Rs.19.60) hit another buyer freeze, especially after the  news came out that Indraprastha Gas' consolidated net profit has jumped 27.5% to Rs.290.76 crore.

#Since the scrip of BHEL almost hit the target of Rs.27, we will remove that and replace it with a bit on Himadri Special Chemicals Ltd at the CMP of Rs.46.50, for short term targets of Rs.67/71. SL: Rs.36.

Earlier this month, Himadri Speciality Chemical said it had resumed its offices and all its operations to ensure business continuity in the continuously evolving situation out of the Novel Coronavirus (COVID-19) outbreak.

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The Indian markets could open a gap down today following Narendra Modi's Brinkmanship with China, after his faulty diplomacy drew the Hindu majority country Nepal, towards China. India under his Tughlaq - ian leadership has already faced enough problems due to an unplanned Lockdown. Now,  this China episode will be fly in the ointment. China is basically a Buddhist - Taoist country. India is now at war with a Muslim Majority Pakistan, a Hindu majority Nepal and a Buddhist - Taoist majority

China.. Wow!! 

Thali Bajana Chahiye Ki Nahi, Dosto? (Friends should we bang "Thalis"?) Narendra Modi Jaise Mahan PM, Aaj Taak Aisa Kaam Nahi Kiya. 

The pictures on the left hand side are excerpts from Malevolent Republic:

A Short History of the New India by K. S. Komireddi, Oxford University Press, 27-May-2019 - Political Science - 271 pages. Price: Rs.1782.81..

Anyway, according to charts, the key support level for the Nifty is placed at 9,750 followed by 9,570 which the Nifty is likely to test. On the upside Nifty will find strong resistances at 10100/10230.

Recommendations:

#I'm keeping my sell recommendation on BHEL (Rs.28.35) intact with price targets of Rs.27/25, while chucking out TVS Motors Ltd (Rs.354.15), which is probably being manipulated by the voted groups right under the nose of SEBI and other regulators, unfortunately.

Mesnwhhe SL for BHEL remains the same at Rs.33. In the situations we are facing as of today, with many companies either going belley up or their machines remaining idle, the capital goods sector will face headwinds. I continue to remain bearish on Bharat Heavy Electricals Ltd.

#Buy Everest Kanti Cylinders Ltd at the CMP of Rs.16.25, for a short term target of Rs.26. According to several media reports, the High Pressure Cylinders Market is Poised For a Strong 2021 Outlook Post Covid-19 Scenario. Buy in market dips. It has factories in Boisar, in Mumbai metropolis, where work is going on.  There was a recent report which says: Everest Kanto Cylinder Limited India's largest manufacturer of high pressure gas cylinders, today announced that it has recently re-initiated supply of cylinders used for storing medical oxygen to its customer base in India. EKC already has all requisite approvals and is well-positioned to cater to the rise in demand from hospitals across the country as well as from other ancillary medical infrastructure being created for the treatment of Covid-19 related cases. The company's manufacturing facilities located at Tarapur (Maharashtra) and Kandla (Gujarat) currently have the the capacity to manufacture over 700,000 cylinders annually with fungible production capabilities, from portable to jumbo cylinders, based on specific applications and clients' requirements.

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Photo: RushLane

Domestic bourses ended with heavy losses on Thursday, in view of weaknes in the global markets and also due to increasing number of Covid - 19 cases. 

The S&P BSE Sensex nosedived 708.68 points or 2.07% to close at 33,538, while the Nifty50 tumbled 214.15 points or 2.12% end the day at 9,902.

The BSE Mid-Cap index also fell by 1.41% and the BSE Small-Cap index lost 1.04%. On the BSE, 1,018 shares rose and 1,533 shares fell, while 154 share remained unchanged mirroring the weakness in the broader market. 

Meanwhile, the Organisation for Economic Co-operation and Development (OECD) has kept India's growth at -3.7% for the ongoing fiscal and warned that growth could further slump to -7.3% in the case of a second COVID-19 outbreak. 

In another significant development the US Federal Reserve held interest rates at near zero on Wednesday, after a two-day Federal Open Market Committee meeting. Most policymakers expect historically low interest rates to continue through 2022. The central bank also set a floor for its asset purchases, pledging to buy at least $80 billion in Treasury and $40 billion worth of mortgage-backed securities, every month. The US central bank predicted that US economy could contract by 6.5% in 2020 before expanding by 5% in 2021.

In view of the prevailing circumstances, I will suggest two short calls:

#Sell TVS Motor Company Ltd at around Rs.332/333, for short term targets of Rs.325/307. SL: Rs.339. 

In the Automobile sector,  the registration of vehicles fell across Indiaby 88.9% on year-on-year in May due to the COVID-19 sponsored Lockdowns continued across large parts of the country, the Federation of Automobile Dealers Associations (FADA) said.
On a year-on-year (YoY) basis, all vehicle categories registered unprecedented de-growth: registration in the two-wheeler fell by 88.8%, three-wheeler by 96.34%, commercial vehicles by 96.63%, passenger vehicles by 86.97% and tractors by 75.58%, respectively. The situation is like to deteriorate father due to a hit in the discretion spending of the consumers.

Financials:TVS Motor Company reported around 43.3% fall in its consolidated net profit to ₹81.85 crore in Q4FY20. It’s total revenue was also down by 20.5%, YoY to ₹3,481.42 crore during the same period. The fall was sharp considering that the coronavirus lockdown period was just for one week in the relevant period -- the motorcycle giant saw a steep drop of 62.01% in its March sales.
Therefore,  we can imagine the condition of its finances when India is reeling under Covid - 19, Lockdown. If the Lockdowns extends beyond June,  2020, the share price could go below Rs.300/297, mark, as it could further dent the margins, as costs are not falling in line with sales. The company had to incur costs arising out of: salaries, materials and advertisements, even though the demand remained weak.

#Sell the shares of BHEL (Rs.2, FV) at the CMP of Rs.30, for short term targets of Rs.27/24. SL: Rs.33  With power sector demand still struggling, and its factories and staffs remaining idle for months, following Covid - 19 Lockdowns across India, in the short term, I expect negativity to continue as regards to its share price. 

It is pertinent to mention here that the scrip of Bharat Heavy Electricals Ltd (BHEL) surged as high as 36% in just a couple of days, last month, after the company invited expression of interest (EOI) from foreign companies to use its currently idle factories, in an attempt to encourage PM Narendra Modi’s ‘Make in India’ program. However, there are two factors here:

• It is very dicey to bet on this parameter when the whole world is under the grip of Covid - 19, with number of cases increasing everyday in India; accompanied by the threat of an outbreak of Covid - 19, part II and
• Hereto, the Unscrupulous, Jumlabazz and Showman, Narendra Modi's "Make in India", campaign has been a flop show.

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Key indices ended with modest gains on Wednesday. The S&P BSE Sensex closed 290.36 points up or 0.86% at 34,247.05. The Nifty50 ended the day, at 10,116.15 up 69.50 points or 0.69%.

Meanwhile, the World Bank said on Monday, 8 June 2020 that India's economy will shrink by 3.2% in the current fiscal. The COVID-19 pandemic coupled with multi-phased lockdowns imposed to curb its spread has resulted in a severe  blow to the Indian economy. The global economy, will shrink by 5.2% this year due to the massive shock of the coronavirus pandemic and the shutdown measures to contain it, the World Bank mentioned.

The BSE Mid-Cap index rose 0.81% and the BSE Small-Cap index gained 0.92%. The market breadth was positive. On the BSE, 1525 shares advanced while 1025 shares fell. A total of 157 shares remained unchanged.

The Federal Reserve kept interest rates unchanged on Wednesday and indicated it does not expect to raise them through 2022.

The Fed also expects the U.S. economy to contract by 6.5% in 2020 before expanding by 5% in 2021.

In the US, the traders took profits out of names benefiting from the economy reopening and rotated into mega-cap tech stocks. As a result S&P 500 closed 0.5% lower at 3,190.17, while the Dow closed 282.31 points down, or 1%., to close at 26,989.99. The Nasdaq Composite, meanwhile, moved up by 0.7% to 10,020.35, marking its first-ever close above 10,000.

Looking at the overall scenario I'll suggest two calls: one short and one long:

#Sell Dabur India Ltd at around Rs. 461/462, for short term targets of Rs.431/404. SL: 470.
Rationale: 

• There is a general  weakness in demand for discretionary goods for this packaged consumer goods maker due to Covid-19 induced nationwide lockdown.
• Dabur was among the first few FMCG companies to suspend operations at its manufacturing units before the nationwide lockdown, actually kicked in. On March 23, Dabur halted operations at roughly 60-70% of its manufacturing plants in India. It has 12 manufacturing units in the country.
• The nationwide lockdown is likely to have a significant effect on the business operations of David India Ltd, both in terms of sales and production.

#Buy the shares of Cochin Shipyard Ltd at around Rs. 267/268, for short term targets of Rs.327/351. SL: Rs.255.

With effect from May 6, 2020, the company started its operations at the main unit at Kochi with entire permanent workforce. The Kochi unit alone contributes more than 90 per cent of the turnover of the company in a year. Hence, there will not be a major impact on its financials even though Mumbai and Kolkata operation remained closed. These two units wil open only after the restrictions are over. 

To catch up with the lost production days, the second and fourth Saturdays have now been declared as normal working days until further notice. Henceforth there would be six working days in a week.

However, there were no production activities from March 23, 2020, to May 5, 2020. Also, there has been a reduced scale of production in outsourced manpower to a certain extend due to reduced migrant labour availability and restricted work arrangements which has reduced the scale of production.

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The market ended with steep losses on Tuesday, due to profit booking, after the recent but spell. Nifty hit an intraday high of 10,291.15 in afternoon trade, however profit booking happened which made it close at 10,046.65 down 120.80 points (-1.19%). The BSE  Sensex closed at 33,956.69 down 413.89 points  (-1.20%).

In the broader market too, the BSE Mid-Cap index fell 0.21% and the BSE Small-Cap index lost 1%.

Sellers outpaced the number of buyers. On the BSE, 1,117 shares rose and 1,459 shares fell. A total of 173 shares were unchanged.

The Nifty is below its 100-day simple moving average placed at 10,282.46, which could act as a crucial resistance in near term. The Nifty had moved up by 11.27% in ten sessions from its closing low of 9,029.05 on 26 May 2020.

Now, with hyperinflation fear roaring high and the Indian economy stagnating, it is time for the  bulls to take rest for some time; if logic prevails instead of unnecessary euphoria.

Meanwhile, the world markets which were also riding the bull wave, could also turn red. Already a few of the world markets (read Asia) are already trading in the negative zone today. In such a situation I would suggest you to sell all your open positions and sit with cash.

#Sell the shares of  Just Dial Ltd Corresponding to the Spot price of Rs.406, for short term targets of Rs.350/342. SL: Rs. 427. The company is almost closed since the  Lockdown. It will have a severe impact in its June quarter results. 

The curious case of Reliance Naval and Engineering Ltd. 

Photo: Pluspng

The stock of Reliance Naval and Engineering Ltd  (Rs.1.35) has been hitting UCs since some days. 

But,  surprisingly the lenders of Reliance Naval and Engineering Ltd (RNEL), a part of Anil Ambani Group, have sought expressions of interest from buyers for the sale of private shipbuilder under the Insolvency and Bankruptcy Code.

It being put to sale to recover outstanding loans of Rs.43,587 crore. The last date for submission of expressions of interest (EoIs) is June 27, 2020 while the final list of prospective resolution applicants will be issued on July 17, 2020 according to an EoI offer notice issued by the resolution professional (RP).

The company is now the second firm from the Anil Ambani Group to face insolvency after Reliance Communications Ltd.

On 20/05/2020, there were media reports that YES Bank sold 2,57,00,000 shares of Reliance Naval and Engineering at Rs.1.10 per share.