Thursday, June 24, 2021

Winning Strokes 

When this report is being made the BSE Sensex was seen at 52,538.78 up 232.70 points (+0.44%), while the Nifty50 was trading at 15,743.85 up 56.90 points (+0.36%). The Nifty is likely to move towards 15900 in the coming days. The festive season has kicked with Eid and the market is expected to continue to show bluish undertone till Durga Pooja. 

#Patel Engineering Ltd (Rs.19.50) seems to have completed its correction from the Rs.23.30 (new 52- week high) levels and is all ready to move up once again. Those who have not booked profit can average at the CMP. Also fresh delivery positions can be taken. We can look for short term targets of Rs.27/30 in the coming days. Accumulate on declines. 

#The stock of Future Retail Ltd (Rs.66.30) is consolidating between Rs.67/68. The stock should soon move past Rs.100, as its online business has clicked with 50,000+ plus orders per day. The investors are strongly suggested to Accumulate the scrip.  The attached photo is of Bigbazaar (of Future Retail Ltd group) App, which can be downloaded to buy online from its stores. Future Retail Ltd's online business has clicked witb 50,000+ orders per day. And hence, it is now academic: who takes control of the company. But whoever takes, it will be beneficial for the Future Group. 

You can support Kishore Biyani's home grown venture by shopping your daily needs through the Future Retail App. It has already come out of a major crisis, post Covid-19 imposed Lockdown, through its newly started e-commerce business. Your support will further bolster the fundamentals of the company. Therefore, Support Kishore Biyani, Support Indian Companies. 

#The scrip of Den Networks Ltd (Rs. 59.50), a Mukhesh Ambani group company is currently waiting for the demerger news from the Reliance Industries Ltd's AGM. Any demerger as you must have seen in the past is positive for a company as it unlocks its underneath value. Den Networks in all probability is likely to go with the profit making RJio. The company recently announced that:

Pursuant to the framework issued by the Reserve Bank of India (RBI) vide its circular dated August 06, 2020 and September 7, 2020, the Company and its Consortium lenders have completed the execution of the necessary agreements, deeds, Security creation, undertakings and other relevant documents for implementation of the One Time Resolution (OTR) Plan on May 31, 2021.

Covid Relief availed by the Company from the Consortium of Lenders in the form of One Time Restructuring (OTR) pursuant to the framework issued by the Reserve Bank of India (RBI) as per Circular dt. August 6, 2020.

The share of Den Networks Ltd is expected to travel to Rs.91/92 very shortly as the company has turned profitable last year. If you are not comfortable with Den Networks, the you can also buy Hathway Cable and Datacom Ltd near the CMP of Rs.26.50.

#My recommended Reliance Capital Ltd (Rs.28.40) made a new 52 week high today at Rs.30. 65. The stock was recommended a few weeks back at Rs.13.35, which doubled within a short time. 

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