Market Mantra

The BSE is now trading at 60,516.48 up 423.51 points (+0.70%), while the Nifty was last seen at 18,007.25 up 112.40 points (+0.63%). However, this green tick in the indices belies the bigger sell off in the broader market.

#Today the shares of Zomato Ltd (Rs.50.70) broke Rs.52/53 ranges. Hence I would suggest to avoid fresh buying, unless it gives a closing above Rs.52.70. Put SL at Rs.47 on closing basis.

I'm finding some pattern in selling. I had tagged SEBI and Mr.Kirit Somaya on Twitter and asked them to look into the matter.

Ironically, the shares of Zomato Ltd is getting sold off at a time when Nationwide Lockdowns have been lifted and intense cold is preventing people from going out. In such a weather it is just a no brainer to think that people will order food through mobile, for home delivery. Moreover, 1 Million plus order on the new year day is not a joke. Even if we take a minimum of Rs.10 as the average net margin per order, the profit could be in crores. 

Interestingly, the average cost of acquisition of Zomato Ltd's shares by Info Edge (India) Ltd, one of the largest shareholders of the company, according to disclosures made in the draft document, is only Rs.1.16. Hold with SL mentioned earlier.

#The stocks of SEPC Ltd (Shriram EPC Ltd) made an intraday high of Rs.14. Those who have bought the share on my recommendations has already doubled their investment values.

#The stock of Piramal Pharma Ltd (Rs.115) is available at dirt cheap price. Accumulate!

#Those who are holding Indowind Energy Ltd (Rs.15.20) are entitled for Rights Issue. There are some positive developments in the  company as per my sources. You can accumulate.

#The shares of BPL Ltd (Rs.75) has again spurted today. You may book some profits and hold the rest with a SL at Rs.72.

#Accumulate the shares of TV18 Broadcast Ltd near Rs.36/37. The falling of inflation is positive for TV Channel companies.