Tit - bits

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.