Winning Strokes

The BSE Sensex today closed at 55,566.41 down 359.33 points (-0.64%), while the NSE's Nifty was seen closing at 16,584.55 down 76.85 points (-0.46%), after yesterday's whirlwind 🌪️ rally. Today's FPIs were net sellers of Rs.1036.56 Cr, while the DIIs lapped up shares worth Rs.1845.15 Cr. However, FIIs were net buyers of Rs.4469.15 Cr in the Futures Segment. The India Vix was at 20.48.

In an encouraging development, the recent media reports suggest that India's economy grew by 4.10% in the January-March quarter of 2021-22, pushing the annual growth rate to 8.70% on account of better performance by manufacturing, mining and construction sectors. In the previous fiscal 2020-21, the economy had contracted by 6.60% due to the disruption of business activities due to the Covid-19 pandemic. This should bring cheers 🥂 to the BULLS 🐂 tomorrow.

#Today, I recommended (on Twitter) the stock of my old favourite, Coffee Day Enterprises Ltd (Rs.45) at Rs.45.10, for a target of Rs.71/72/85. SL: Rs.41.

Coffee Day Enterprises Ltd (Rs.45) has reported a consolidated net profit of Rs.58.67 crore for the fourth quarter ended March 2022. The company had posted a net loss of Rs.272.09 crore in the January-March quarter a year ago.

Post lifting of Covid - 19 restrictions, the restaurant sector is expected to do well. This is a huge company. 

Those who bought the shares of Coffee Day Enterprises Ltd (Rs.45), today, hold on for the targets mentioned earlier.

#The shares of my recommended Canara Bank Ltd (Rs.205) broke Rs.207, post touching Rs.210.40, intraday. It seems there is a problem in the counter, which the market might have figured out. For the time being if Rs.202.70 is broken then Exit the counter.

I'll again recommend if Rs.203.50 holds. At the moment it looks a little shaly

#The shares of Vodafone Idea Ltd (Rs.9.60) buoyed by the news that the government is going to take stake in the company, touched Rs.10.20, Intraday. With 130 crore plus population of India and debt burden temporarily removed, this Aditya Birla group company stock could become a multibagger going forward. The company is also looking for a  fresh investment of Rs.20,000 crore, if the recent media reports are to be believed. Accumulate!!

#The stock Steel Authority of India Ltd (Rs.75.95) made a high of Rs.76.70, intraday. The demand for the commodity would continue to remain high, as the Indian economy grows further.

Meanwhile, there is news that the price of seaborne premium hard coking coal from Australia fell on Tuesday May 31, while the Chinese domestic coke market was relatively stable, with sentiment partly supported by the impending removal of Covid-19 restrictions in Shanghai.

This is likely to push down the manufacturing cost of Steel, improving the Bottomline of SAIL. Accumulate, for targets of Rs.95/97/103/111.

#Those who have a minimum portfolio size of Rs.1 lakh (Rs.50,000 offer has expired) can join my profit sharing arrangement. For this they should send me a mail at: suman2005s@rediffmail.com. 

They need to compulsorily open a Demat Account in my associate brokerage house. The earlier system of trading through any brokerage house has been withdrawn, due to foul play of some of the participants.

The money will be invested in delivery based safe calls and the risk will be minimum.

#The shares of my recently recommended Suzlon Energy Ltd (Rs.8.55 made a high of Rs.8.70. The price of Steel are likely to come down by 10/15% by the ICRA. Steel is a major component of Wind Turbines.

Union Minister for Power and New & Renewable Energy, RK Singh has recently said that India plans to have a capacity of 30,000 MW of offshore wind power.

However, the current NDA government headed by Narendra Modi is responsible for almost killing the golden goose of wind power. 

Why the BJP can't find a better Prime Minister among 130 crore population, makes me wonder!! 

India's achievement of good GDP growth is due to the unflinching efforts of India Inc and also due to pragmatism of some of the ministers in the NDA government. 

The Announcement King, Narendra Modi should not take credit; he has Infact ruined everything on the economic front, while institutionalising Fake News and Bluffs, through his foot soldiers in the cyberspace.

Meanwhile, India’s aim to achieve 500GW renewable energy by 2030 faces several obstacles with global challenges, such as the Russia-Ukraine war. 

At present there is a sort of Policy Paralysis in the wind energy sector.

It is therefore imperative that the Finance Minister, Nirmala Sitaraman take the initiative herself and see that the good days return to the wind energy sector.