Tit - bits 

Yesterday (April 16), the domestic Benchmark indices ended in the green, with the Sensex closing 223 points higher at 30,602.61 while the Nifty finished 68 points up at 8,992.80.

Mid-caps and small-caps outperformed the large cap benchmarks as their sectoral indices on BSE closed 1.42% and 1.71% higher, respectively.

While the coronavirus panic has sent global markets to jitters, India is well prepared to take on the headwinds, Sanjeev Sanyal, Principal Economic Advisor to the Ministry of Finance, said. India cannot remain entirely insulated from what is going on in the global financial market, but, it is well prepared to deal with it because of its over $400 billion-worth foreign exchange reserves, he told CNBC TV-18. To top it off, there is a decline in oil prices, and inflation is under control. India has a lot of monetary space, unlike its peers in Europe. It is “time for us to remain in control,” he added.

#The Food related scrips did well yesterday, with KRBL (Rs. 207.85) hitting buyer freeze. The scrip  fell from around Rs.677 - plus in October, 2017 to around Rs.96, at the end of March this year when India declared world wide Lockdown.The immediate targets for the share are Rs.251/255.

#The share of National Fertilisers Ltd (Rs.25.30), after a whirlwind rally yesterday came in for mild profit booking. However, the scrip has given a break out and it is only time that the targets of Rs. 28/31 would be achieved. It has the potential to move above Rs.40, as Ramagundam Fertilizer Ltd, in which it has stake, is about to start production. 

Also, in another significant development, there were media reports, in last month that the Urea manufacturers will now get benefits from the government to produce more. The NDA government on 13 March, 2020 announced benefits for the urea manufacturing companies. 30 urea factories will get fixed cost at a rate of Rs.350 per metric tonne, Cabinet Minister Prakash Javadekar said in a cabinet press briefing. 

He also announced that a few urea factories that are older than 30 years but are still producing urea, will get Rs.500 additional fixed cost. India imports more than 50 lakh tonnes of urea, worth more than a billion-dollar, every year. To reduce the weight of this import, the government has been consistently trying to boost domestic production and cut the imports.
Moreover,  because of high soil moisture after the late surge in rainfall last year, the Rabi season has started on a good note, pushing up the demand for fertilisers.
The other (recommended) fertiliser scrips also went in for mild consolidation yesterday -- RCF Ltd closed at Rs.39, up 1.69%, Deepak Fertilizer Ltd closed at Rs. 89.95 up 1.41%.

#The construction related scrips as expected also did well  yesterday. The stock of Ashoka Buildcon Ltd (Rs.61.30) moved up to Rs.62.10 during intraday.  It closed 18.45% up as compared to previous close. The next targets are Rs.87/92.

#This is a liquidity driven rally and hence we would see its continuance in the immediate future. 
Meanwhile, estimating the economic cost of the Covid-19 epidemic to be huge, the NITI Aayog has proposed a massive fiscal stimulus of over Rs.10 lakh crore or 5% of the gross domestic product (GDP) to address the situation. The package envisaged by the think tank includes income support to the poor, equity support to corporate India, absorption of a portion of NPAs in MSME sector and additional investments in healthcare. While the potential decrease in GDP size itself will raise the Centre’s fiscal deficit expressed as fraction of it to 4% in FY21 from the budgeted 3.5%, the proposed fiscal stimulus could widen it to an unheard-of 10.5% of GDP.
Buy good beaten down scrips and keep holding.  If you have the capacity to invest around Rs.3/5 lakhs on profit sharing basis, them you can come to me -- together we can make big. 

I would recommend a short term momentum counter today in this blog, during the maket hours and hence remain tuned.