Market Mantra

The stock of Alankit Ltd (Rs.24.55), basically an e-Governance company, was recommended yesterday to the Premium Members; the stock is up around 3% today. With the government’s increased focus on greater level of governance and transparency on back of digitization, these kinds of companies are likely to be beneficial, albeit with increased competition from the peers.

Alankit Ltd. is a 25-year-old entity which has been operating across the diverse spectrum of financial services, e-Governance, insurance and healthcare services. Alankit Assignments Ltd, one of the leading affiliated companies of the group commenced business operations in 1995 and was recently the registrar of one of India’s largest ever public-sector IPO – HUDCO. With a network of over 5000 centers, Alankit has direct presence in more than 673 cities across India. The company also has presence in international frontiers with presence in UAE, UK and Singapore. 

After building strong and successful portfolio in financial services and e-Governance space with offerings like UID enrolment (Aadhaar), TIN and PAN facilitation, IWRC, e-Return intermediary and more, a recent milestone for the company has been identification and authorization by GSTN as a GST Suvidha Provider (GSPs).

The scrip of P C Jewelers Ltd (Rs.85.70) is witnessing hammering today also, due to corporate governance issues. The stock touched a low of Rs.81 today in the NSE. I would still suggest you to stay from the counter, till the management commentary looks promising for the shareholders. The stock could test Rs.62 on the downside. 

The scrip of  Bhusan Steel Ltd (Rs.23.65) is seeing correction after an excellent run. The traders were asked to exit, if Rs.29 was broken on the downside. The Rs.2, Face Value share could touch Rs.16-17, before starting a fresh upmove. 

Intraday, BUY IOC Ltd at around Rs.162.25, SL: Rs.160.25, Target:  Rs.165.5. Fitch Ratings has affirmed Indian Oil Corporation Ltd's (IOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-'. The Outlook is Stable.The agency has also affirmed IOC's senior, unsecured rating and the ratings on its outstanding, senior, unsecured debt at 'BBB-'.Fitch equalizes the India-based company's rating with that of its largest shareholder, the State Bank of India (BBB-/Stable) based on Fitch's Government-Related Entities (GRE) Rating Criteria.

I will give fresh inputs on Rasoya Proteins Ltd (Rs.0.16), TV Vision Ltd (Rs.5.40) and Mandhana Industries Ltd (Rs.5.01), this week to the Premium Members. Those who wants to get 1st hand information on these scrips, should join the Premium Service.