The Gulf Reconstruction Play: How NRIs Can Track Indian EPC Firms Winning Overseas Contracts

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence NRI Investing · Gulf EPC Tracker The Gulf Reconstruction Play: How NRIs Can Track Indian EPC Firms Winning Overseas Contracts A record ₹7.79 lakh crore order book at L&T with about 37 percent in the Middle East, a UAE gas pipeline award of over ₹4,000 crore at Kalpataru, a Kuwait desalination win at Wabag and a US$1 billion Gulf pipeline in sight at Engineers India. The evidence is public, and an NRI can follow it from the United States. From the United States, the Middle East usually arrives as a headline about oil, shipping lanes and geopolitics. Look one layer below it and a more practical story appears: power lines, gas pipelines, desalination plants and storage terminals that have to be built, repaired and made more resilient. Indian engineering companies already work in those markets. For a US-based NRI who follows Indian equities, the useful question is which listed firms are turn...
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Sonata Software, India Glycol, Cummins Looks attractive....

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Market does not look encouraging today: The markets rose yesterday by more than 300 points on the BSE Sensex. That was just a sentiment driven and a technical pull back due to Fed Chairman's comments. FIIs were net buyers yesterday whereas the Mutual Funds are net sellers. With the High Oil prices, ruling and dollar ranging high, and Rupee becoming weak, the markets are not looking attractive at all today. Asian markets are today down, but no major change is visible as of now. Yesterday I sold some of my positions. EM Mutual Fund out flows is $ 1.9 bn in the week ended, 19 th July, 2006 . Redemptions largest in Asia and smallest in Russia. For India net out flows is $ 42.5 million for the week ended 19 July, 2006. From the derivative sides, the resutls are not encouraging and discount got less. Today the markets are expected to open in the green due to inertial from the yesterday's market dynamics but would gradually slip in the red. So the investors are asked to book profits in the opening bell. The markets are expected to remain stable or u can say range bound. Two stocks which still look attractive from the investment point of view is:( Delivery and Daytrading) 1.India Glycol--> CMP--->Rs.125.70 , SL--->Rs.123, Target 1-->Rs.135, Target 2-->Rs.140, Target 3--> Rs.180 2. Cummins India Ltd--> CMP-->Rs.167.80, Resistance --> Rs.171, SL-->Rs.165, Target 1-->Rs.181, Target 2--> Rs.202 Also Sonata Software Ltd looks good investment from yesterday's closing price, as I have already mentioned in the letter send earlier in the group. No time now.....More in the following postings. Best wishes, Suman Mukherjee India. http://finance.groups.yahoo.com/group/SumanSpeaks/

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