WINNING STROKES: THINK DIFFERENT

Candle Stick Chart of Punj Lloyd Ltd

Manappuram Finance Ltd as expected moved up today, after Religare Securities Ltd recommended the scrip as a buy for a short term target of Rs.25. CLICK HERE. According to my closed sources, who refused to be named, "There would be better numbers going ahead, as the price of gold is buoyant. In case the company wants to recover its loan amount and forced to sell the collateral, there would less hassles; as prices are much higher, than in June, when Bullion fell a two-year low. Value of the collateral going up always helps in the lending business".  Gold futures closed at Rs.30690.00 per 10 grams in MCX yesterday. Manappuram said in a March, 2013, stock exchange filing, declining gold prices may trigger an increase in defaults and an “under-recovery of revenue on certain gold loan portfolios.” The company’s gross bad debt rose 21% in the three months ended June 30 from a year earlier. However, this is expected to come down drastically now as the gold prices are above Rs.30, 000 per 10 grams. I think the scrip should now race towards Rs.31-32. The stock exchanges should remove 5% circuit limit for the stock or put a minimum 10% circuit limit. In these kinds of scrips 5%, circuit limit is simply a hoax. 

Allied Digital Services Ltd hit the buyer freeze in the late afternoon trade. The scrip should be moving towards the next target of Rs.22-23. The company would be one of the biggest beneficiaries of the fall in INR Vs USD. Those who are holding the scrip should average it on all declines. 

With INR recovering from all time lows, both the stocks VIP Industries Ltd and SAIL recommended as a strong buy moved up yesterday in the Indian bourses. While VIP Industries Ltd touched Rs.52.05 intraday, SAIL touched Rs.51.35. Both the scrips will gain further if INR appreciates more against the USD. Last week Indian  Foreign Minister, Salman Khurshid said in an interview to a business channel that the oil minister will on 16 September 2013 announce plans for lowering fuel consumption. This is expected to have a positive effect on the INR Vs USD.
Punj Lloyd Ltd was recommended yesterday around Rs.25.50-26, in the dying hours of the trade. Punj Lloyd showed a turnaround in June, 2013 quarter, when it reported a consolidated net profit of Rs.40.41 crore in Q1 June 2013, as against net loss of Rs.13.37 crore in Q1 June 2012. Punj Lloyd's consolidated net sales rose 10.8% to Rs.3000.26 crore in Q1 June 2013 over Q1 June 2012. Earnings before interest, taxation, depreciation and amortization (EBITDA) declined 1% to Rs.293 crore in Q1 June 2013 over Q1 June 2012. The company is expected to get benefits from the recent announcements from the government. Punj Lloyd, is a leading EPC conglomerate. Punj Lloyd's scope of work includes residual basic and detailed engineering, procurement, construction, installation, pre-commissioning, commissioning and project management for the sulphur block comprising 2 x 100 TPD Sulphur Recovery Unit including Tail Gas Treatment Unit, 60 m3/hr Sour Water Stripper and 250 TPH capacity Amine Regeneration Unit on a single point responsibility basis. Last month the company, was awarded a contract worth Rs.358 crores by Chennai Petroleum Corporation Ltd (CPCL) to build the Sulphur Block of Resid Upgradation Project at its Manali refinery near Chennai. The project is expected to be commissioned in December 2015. With this contract, the order backlog for the Punj Lloyd Group on a consolidated basis has gone up to Rs.21, 226 crores, reflecting the total value of non-executed order as on June 30, 2013 and the orders received after the day. The Group's strategy has been to expand its footprint outside India and today over 65% of orders represent the growing regions of Middle East, Africa, and Asia Pacific. While revenues show a reasonable increase in challenging global macro environment, margins are set to improve as the rupee appreciates further. n the coming months, the group is actively looking at retiring high interest debt. The latest book value of the shares of the company is Rs 115.88. The share touched its 52-week high of Rs.64.10 and 52-week low of Rs.20.25 on 09 January, 2013 & 04 September, 2013, respectively. At current value, the price-to-book value of the company is 0.21. The market cap of the company at the CMP of Rs.24.75 is only Rs.821.94  Cr, which makes it look very attractive for short term investments. Earlier, National Stock Exchange of India (NSE) had decided to exclude the company from the futures and options (F&O) segment with effect from only, 1st November 2013. Therefore, there will not be much sentimental impact on the share price, due to this episode, in September, 2013. 
Jai Prakash Associates Ltd reached my 3rd target of Rs.42 (intra-day it touched Rs.43.90), yesterday. The news of selling its cement division gave a spurt in the stock price. The scrip was recommended around a couple of weeks back at around Rs.31-32. 

Market Mantra

Yesterday, the Nifty moved as expected and closed with a a spectacular gain of 216 points. The market opened with a huge gap, which was followed by sustained buying by the bulls in the run-up to 5900-plus. The bulls were in full control of the proceedings throughout the days and Nifty finally settled near the top of the day.
After a long period on uncertainty and volatility, market seems to have taken an upward direction now. Nifty has recovered 786 points from the low of 5118 in just nine trading sessions. This shows nothing but a reversal and increases the possibility of a medium term uptrend ahead. However......(This Portion is for the Paid Group Members / Clients).
US indices ended higher Tuesday on encouraging economic data from China and as tensions lingering around Syria eased. Key Asian indices are trading mixed as some of them gave up gains on profit booking.
Fundamentally speaking, the share indices are trading flat after yesterday's massive upmove. With the focus now being shifted to the small and mid cap space, the indices are expected to be range-bound for the next few trading sessions.
Today's Call: Buy Opto Circuits Ltd at Rs.25.50--26, for  a target of Rs.32. When most of the pharmaceutical stocks are doing fine, this stock is yet to spurt up. Even in these kinds of markets, the company came out with a net profit of Rs.22 Cr, in Q1FY14, which gave an EPS of Re.0.92. The annualized EPS for FY14, comes around Rs.4-5. Also, it's 21 DSMA>50 DSMA, which indicates bullish formation on the chart. However please keep a SL of Rs.23.50.
Gold price in MCX Ltd is marginally up (flat) today, after yesterday's fall. The seasonal demand would keep the price of the yellow metal buoyant during the coming days. As long as Gold prices in India does not go below Rs.24, 000, there is nothing much to fear from investing in the shares of gold loan companies. CLICK HERE. The loans given are for the short term, hence, they are more or less safe. I have spoken with the sources of Manappuram Finance Ltd (Rs.17.25) who said, the company is now taking steps which would increase the shareholder value. Meanwhile the company has appointed Mr. Kapil Krishan, as the Chief Financial Officer of the Company. He has joined the Company on September 09, 2013.Those who are holding the scrip can keep holding with a SL of Rs.16. 
Now suddenly, when the sentiment in the telecom sector has improved one can go for, Tulip Telecom Ltd (Rs.7.85), at this hour. Buy minimum, 5000--10, 000 shares of the company and keep holding. When a rally in the mid and small cap has started, these stocks have to perform. 
Jai Prakash Associates Ltd, today reached the 2nd target of Rs.42 (intra-day it touched Rs.43) and hence, I would suggest all to book at least 80% of the profit. And keep holding the rest with a SL of Rs.38.70. The debt of the company is humungous around Rs.62, 000 crores, which will be reduced by around Rs.3700 Cr. Therefore major part of the debt still remains. 
DECCAN CHRONICLE HOLDINGS LTD has been declared a wilful defaulter by CENTRAL BANK OF INDIA (CBI). The bank has referred the matter to the Reserve Bank of India. Hence, this might have a NEGATIVE effect on the balance sheet of CBI, therefore exit the stock of CBI at around Rs.58, and wait for dips to enter in Dena Bank Ltd around Rs.XXXX. However, those who are a little risk taking can buy Punj Lloyd Ltd at Rs.24.50-25, for a target of Rs.31-32 in the next few trading sessions.

WINNING STROKES: THINK DIFFERENT

Yes Bank Ltd recommended, on last Wednesday touched Rs.293 intra-day before settling at Rs.287.35, a jump of more than 20% in one day. In the same space, Karnataka Bank Ltd was recommended yesterday to the Paid Group members, at Rs.78.50, the scrip touched Rs.86.60 on Thursday, before closing at Rs.85.65.
MCX Ltd which was recommended around Rs.255 and Rs.270, today hit another circuit to close at Rs.453.20, which is almost near my 2nd target of Rs.470. The scrip has been hitting non-stop upper circuits from around Rs.280.  
Buy Tulip Telecom Ltd at Rs.8.15 for a target of Rs.12-15, SL-Rs.7. The Board of Directors of Tulip Telecom has by way of passing a Resolution by Circulation on August 30, 2013 accorded their approval on the appointment of Mr. Anuj Bhargava (Nominee of ICICI Bank) & Mr. P.C. Bandivadekar (Nominee of Tata Capital Financial Services) as the Non-Executive Independent Directors of the Company w.e.f August 29, 2013.

Today SAIL was recommended to the Paid Group at Rs.47.70, on the hope that after monsoon, the constitution activity will pick up. Tata Steel Ltd has raised prices of its flat products by 5%, and those of long products by 3-5%. CLICK HERE. This is expected to have positive impact on the shares of all Steel Companies. Meanwhile, Bloomberg reports: The fastest Chinese steel output on record is still too slow to meet demand from builders, reducing inventories and driving prices toward a bull market. CLICK HERE.
Today Manappuram Finance Ltd though recovered from the lower circuits but still it closed with a loss of  around 3.8%, which surprised me. It is because when most of the Bank Stocks are moving up and the Sensex was up more than 400, it was unusual to see this kind of momentum counters, hitting the lower circuits. What was a little baffling is that, inspite of sources confirming that there is no problem in the company and gold price recovered from their early losses a to move higher by Rs.160 to Rs.32,764 per ten grams in futures trade (as speculators enlarged their positions, moving in tandem with a firming trend overseas. Gold price in overseas markets, which normally set price trend on the domestic front, edged higher today as investors looked for bargains after a sharp drop in the previous session, but it stayed below the key level of $1,400 an ounce as upbeat US data dented its appeal as an alternative investment), the scrip closed in the red. This raises questions as to who is playing with this share, when even its peer group company Muthoot Finance Ltd (touched Rs.124.95 today) is doing much better. Is there any circular trade going on in the shares of Manappuram Finance Ltd, because a large FII has taken position in the counter? The regulatory authority should immediately take steps, so that any attempt to do mischief with the share price is nipped in the bud.  

WINNING STROKES: THINK DIFFERENT 

B F Utilities Ltd reached the 1st target of Rs.139, as it touched Rs.140.70 intra-day. The scrip was recommended last week around Rs.127-128. 

MCX Ltd hit another buyer freeze, even though the market tanked. I however, feel that it is time to book some profits. The stock closed at Rs.411.10.

Manappuram Finance Ltd unexpectedly hit the lower circuits today, though the price of gold rose due to tensions in the middle east. Safe-haven buying lifted the price of gold on Tuesday after an Israeli missile test ahead of a possible U.S. strike on Syria. This fall in the price of the share of Manppuram Fiance Ltd, seems to be artificial as it lacked the required volume and sales mostly came through delivery based trading. I would basically consider it profit booking and ask you all to accumulate the scrip at the CMP of Rs.18. Muthoot Finance however closed flat at Rs.112.50. CLICK HERE. 
Geometric Ltd recommended some days back at Rs.76-77.50, today touched Rs.80.50. This is tune with the over-all buoyancy seen in the IT counters. 
DLF Ltd today touched its first target of Rs.139, as it rose to Rs.139.75 intra-day. The scrip however closed at Rs.127.40, due to massive speculative selling in the Indian bourses. 
Join my recommended BROKERAGE HOUSE and get assistant during the market hours. If you are interested then do send me a mail at suman2005s@rediffmail.com. 

Gold price today: Latest updates

Tuesday, September 03, 2013: Gold prices extended their yesterday's gains by Rs 170 to Rs 33,234 per ten grams in futures trade Tuesday as rupee fell past 67 against US dollar.

Further depreciation in rupee Vs dollar mainly supported bullion prices as it makes imports costlier. However, weak trend in overseas market capped the upside by restricting market participants from enlarging positions. 

The rupee today weakened by 11 paise to 67.11 against the dollar at the Interbank Foreign Exchange market due to renewed dollar demand from importers and appreciation of the US currency overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in October rose by Rs 170 to Rs 33,234 per ten grams as against its previous close of Rs 33,064. The yellow metal had hit an intra-day high of Rs 35,074 on last Wednesday.

Similarly, silver benchmark delivery gained by Rs 380 to Rs 55,334 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, fell for a fourth straight session on Tuesday as its safe-haven appeal was dented by a delay in a potential US strike on Syria and strong global economic data.

Spot gold last traded down USD 6.50 or 0.47 percent at USD 1,391 an ounce.

Meanwhile, gold prices extended losses for the fourth straight day by losing Rs 325 to Rs 31,100 per ten grams on stockists selling.

However, silver snapped three day of losses and rebounded by Rs 420 to Rs 54,350 per kg on increased offtake by industrial units and coin makers at existing lower levels.

Mumbai

Standard gold of 99.5 percent purity fell by Rs 410 to close at Rs 31,540 per 10 gm from last Saturday's closing level of Rs 31,950.

Pure gold of 99.9 percent purity dipped by Rs 435 to to finish at Rs 31,685 from Rs 32,120.

However, silver ready (.999 fineness) climbed by Rs 465 to conclude at Rs 55,575 per kg as against Rs 55,110 last weekend.

Delhi

Gold of 99.9 and 99.5 percent purity fell further by Rs 325 each to Rs 31,100 and Rs 30,900 per ten grams, respectively. It had lost Rs 2,475 in previous three sessions. Sovereign followed suit and declined by Rs 200 to Rs 25,100 per piece of eight gram.

On the other hand, silver ready gained Rs 420 to Rs 54,350 per kg and weekly based delivery gained Rs 2,420 to Rs 55,850 per kg. The white metal had lost Rs 4,570 in last three trades.

Silver coins also spurted by Rs 1,000 to Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces. 

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October rose by Rs 170 to Rs 33,234 per ten grams as against its previous close of Rs 33,064. The yellow metal had hit an intra-day high of Rs 35,074 on last Wednesday.

Similarly, silver benchmark delivery gained by Rs 380 to Rs 55,334 per kg.

International markets

Spot gold last traded down USD 6.50 or 0.47 percent at USD 1,391 an ounce.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai

GOLD: 31,685 (-435)/ SILVER: Rs 55,575 ( +465)

Delhi

GOLD: Rs 31,100 (-325)09:09 03-09-2013/ SILVER: Rs 54,350 (+420)

Chennai

GOLD: Rs 30,290/ SILVER: Rs 57,570

Kolkata

GOLD: Rs 32,760 / SILVER: Rs 54,450

Bangalore

GOLD: Rs 33,359/ SILVER: Rs 54,100

Hyderabad

GOLD: Rs 31,000 / SILVER: Rs 54,500

Courtesy: Zee News

Market Mantra

MCX Ltd recommended at Rs.255 and then at Rs.272, today touched Rs.391.55 in the BSE. The scrip was asked a buy, when there was of pessimism surrounding te counter.

Geometric Software Ltd recommended around Rs.76-77, to the Paid Service members today touched Rs.79.90 in the NSE. It is a scrip in which ace investor Rakesh Jhunjhunwalal is holding substantial stake. 
Gitanjali Gems Ltd has hit the buyer freeze in the opening trade at Rs.76.15.  There were some media rumours that the company, which has been hit by RBI's new rules on gold import, has approached banks for more than 10 bln rupees in loans.

Today's call: Buy Manppuram Finance Ltd Rs.19.30, T--Rs.25-29-31, SL--Rs.16.80 or Muthoot Finance Ltd at Rs.113-114, T--Rs.132, SL-Rs.103. With gold now around Rs.30, 000 plus in India, there cannot be a better opportunity than investing in gold loan companies. With the tension in Syria continuing and no fixed call from the US Fed regarding tapering of the QE3, the gold prices are not likely to come down below Rs.30, 000 in the domestic market too soon. Moreover, the ensuring festive season starting from Ganesh Chaturthi, will keep the demand for Gold in the domestic market very high. CLICK HERE and CLICK HERE. 
Jai Prakash Associates Ltd recommended last week around Rs.32-33, today rose to Rs.36. The stock was strongly recommended for the 1st target of Rs.37. 
Buy Dena Bank Ltd at Rs.45, T--Rs.52, SL--Rs.41.80. The company came out with decent set of numbers for the Q1FY14, sequentially. The point which to be noted is that in Q1FY14, the EPS is Rs.5.40, which gives perfect indication how undervalued the share price is, at the CMP. One should buy the stock and keep holding. Today another scrip from the Public Sector Bank space, Union Bank India Ltd rose more than 5% intra-day and is now trading at Rs.107.70.
There is positive news in UNITED BREWERIES LTD: Vijay Mallya got 10.5 mn pledged shares released on Aug 7.  The scrip could cross Rs.800 in the next few trading sessions. 
NMDC Ltd recommended around Rs.107-109 and again at Rs.93-94, today touched Rs.122.50.  It has recently been recommended by a number of advisory services. CLICK HERE.

Mid Market Chart Check

[Excerpts of my mid-day inputs to the clients]

Market experienced buying at lower levels. A gap down opening took the Nifty to a low of  5118.85 during first few hours of trade. However, strong buying at lower levels pulled it to a high of 5317.70. Finally it settled almost flat. 
Due to over sold situation in short term and subsequent short cover, the  F&O expiry is expected to be closed in the positive today.  Since the morning, there has been relentless buying in the Indian bourses, after the INR appreciated against the USD. However, what is to be noted is that till now the rallies are proving to be short lived and are getting exhausted quickly. On the other hand lower level is attracting buying interest also. This has resulted into extreme volatility on the either side of the spectrum. However, it seems there are now some hope of Nifty going to 5700 levels by the end of September, which is normally a good month for the BULLS. 

Resistance: 5425 / 5475
Support: 5350 / 5300.

Today' Call: Buy J P Associates Ltd (BSE Code: 5325322) at Rs.33-33.40, T--Rs.39, Sl-Rs.29. The news is that Aditya Birla Group is close to concluding a deal to buy out the company's cement plant in Gujarat for close to 35 bln rupees (Rs.3500 Cr), which could be announced anytime from now. Please remember, last time on such a news, the scrip rallied from Rs.51 to around Rs.90 plus. Those who wants to take  a small risk then they can try Rs.40 Call of J P Associates Ltd at Rs.1.40, for a target of Rs.3-4 in the next 30 days. But do keep a SL of Rs.0.80 paise for any down move.  CLICK HERE & CLICK HERE. 
MCX Ltd which was recommended around Rs.255 and Rs.272, last week is today locked at the Upper Circuits at Rs.256.15. The is near the first target. 
Those who have earlier taken B F Utilities Ltd at Rs.128-128, or later, bought it around Rs.118-120, when it fell can continue to add on to their positions and wait for the scrip to cross Rs.200. Today, I am told that an advisory service has recommended the scrip, as a buy for a target of Rs.163.Today the scrip already touched Rs.134.40.
Those who have entered VIP Industries Ltd yesterday, are suggested to exit the counter at around Rs.47.80-48 or either with small profits, or with cost price, because the stock is not performing as expected, even as the INR appreciated against the USD. It was recommended yesterday, on the two premises: 
(i) Ace investor, Rakesh Jhunjhunwala has increased his holdings, mostly probably banking on the revival of sales from the CSD business of the company. 
(i) Any appreciation of the INR against the USD would be positive for the company as it imports around 80-85 % of its products. 
However, the stock did not react too much on the positive side, may be because the price of crude has risen, on the fear of another war in the middle-east. 

AFTER MARKET OPENING CHART CHECK

Photo, Courtesy: Faking News

In an extremely bearish move following the passing of the FSB, the Nifty, it fell down to 5274 and closed with a huge loss of 189 points. A gap down opening was followed by sustained selling till end, with no respite, with a total absence of any intra-day upward correction.
Market is in confirmed down trend and scary target of 4800-4900 are talked about in sundry analyst circles. Shares are making new lows every day and even BLUE CHIPS are now spared. Rallies are  generally short lived and get exhausted quickly. The pace of fall is much higher than rise the rise.  3-4 days of rally had been corrected by single day of fall. Much of the fall is due to self-inflicted pain created by our "Tughlak-ian" UPA Government and its anti--people policies. The main opposition BJP only gave Lip-opposition to the FSB (Ironically called, "Vote Security Bill"), which clearly indicates, what each political entity, ultimately espouses, internally--much of what we see outside is only their masks. However, the voters have to choose the lesser evil among them. In such a scenario it is puerile to take long positions in Nifty_Futures, except playing on the range 5120--5165. What the investors/traders can do now, is to go for staggered buying in some of blue chips, like BHEL (Rs.107-108), L & T (Rs.686-687), B F Utilities Ltd (Rs.120), VIP Industries Ltd (Rs.46-47), etc.

Resistance: 5220 / 5250

Support: 5150 / 5110.

MCX Ltd hit another buyer freeze in the opening trade. The scrip was recommended last week at Rs.255-256 and Rs.271-275, when it came out of the circuits.

Manappuram Finance Ltd today touched the first target of Rs.17 (touched Rs.17.73) and is now going for usual correction. The investors/ traders who have purchased earlier should book profits.

Today's call: Buy VIP Industries Ltd at Rs.46-47, for a price target of Rs.52-57-62, SL--Rs.41. VIP Industries has reported a standalone sales turnover of Rs.326.90 crore and a net profit of Rs.23.00 crore for the quarter ended June '13. Other income for the quarter was Rs.0.60 crore. For the quarter ended June 2012 the standalone sales turnover was Rs.302.60 crore and net profit was Rs.23.50 crore, and other income Rs.0.30 crore. Please use stop losses strictly, because in this market, one never knows where a scrip can go on the downside. VIP Industries is engaged in manufacturing of moulded luggage (from high-density polyethylene), soft luggage (from nylon, polyester, jupolene, printed polyester) and ABS luggage (from acrylonitrile butadiene styrene plastic) including briefcases, suitcases, handbags, carry bags and vanity cases. VIP Industries, Asia’s No. 1 luggage manufacturer, had earlier announced the appointment of McCann Erickson as its creative agency for VIP brand. The company also said that it is currently scouting for a creative partner for its Skybags brand. The business has moved both its brands, VIP and Skybags, from its incumbent agency, Ogilvy & Mather. Established in 1971, VIP Industries sells nearly five million pieces of luggage a year. The state-of-the-art VIP Design Lab is credited with multiple international patents and design registrations. The company’s latest launch, VIP Verve, is a stylish, lightweight polycarbonate luggage, and was awarded the prestigious ‘Product of the Year’ Award for 2011-12. CLICK HERE.

Those who are holding Manappuram Finance Ltd at around Rs.14-80-15, are suggested to book profits and wait for the scrip to cross the bottle-neck area of Rs.17.70-17.80.

WINNING STROKES: THINK DIFFERENT

Manappuram Finance Ltd hits another buyer freeze in the opening trade. The scirp got locked at the UC at Rs.16.05. The stock was repeatedly recommended last week, as a must buy. Gold prices would continue to remain buoyant in the Indian markets, due to import restrictions. Meanwhile, Shri V.P.Nandakumar, Managing Director & CEO said, that the changes in lending policies introduced by the RBI will strengthen the NBFC sector in the long run. Also, the company announced the following news yesterday: Manappuram Finance Limited has submitted to the Exchange a copy of the disclosure under Regulation 13(4) of SEBI (Prohibition of Insider Trading) Regulations, 1992 in relation to the purchase of 2, 52,000 equity shares of the Company by Mr. I Unnikrishnan, Executie Director and Dy. Chief Executive Officer of the Company, and 6,000 equity shares purchased by Mrs. Sathialekshmi. M jointly with Mr. I Unnikrishnan. (Source MSE).
The Nifty_Futures moved to 5526.75, after a buy was given on it with a target of 5530. The Nifty_Futures is expected to try crossing 5620 once again this week. 
MCX Ltd hit the buyer freeze in the opening phase. Those who have not exited the scrip, and have taken fresh position after it was again recommended in Facebook at around Rs.272, can continue to hold the scrip, with a SL at Rs.287. The stock closed at Rs.306.90, in the BSE.
B F Utility Ltd touched Rs.137 today, while BHEL touched Rs.124.65 (Recommended at Rs.120) and L &T touched Rs.759.75 (Recommended at Rs.743.95), after they were recommended  in the Premium Blog today. B F Utility Ltd closed at Rs.134, after it broke out last week, from the existing trend. The new government in Karnataka is positive for the company. B F Utility Ltd gets a good portion of its revenue from the wind power. CLICK HERE.

Easier exit window for foreign investors in infrastructure projects

NEW DELHI: The government is planning to a give easier exit window to foreign investors in construction, housing and township projects, hoping to spur greater equity inflow into the debt burdened sector and help faster completion of delayed projects.

The measures are continuation of the government's ongoing drive to make FDI policy more attractive. Under the current rules, 100% FDI is allowed in the construction, housing and township but subject to a threeyear lock-in, a condition that was imposed to ensure speculative money does not flow into real estate but has also had the unintended consequence of stifling genuine investments.

The sector attracted $1.3 billion FDI in 2012-13, down 58% from $3.1 billion in 2011-12. The department of Industrial policy and promotion (DIPP) is now mulling allowing foreign investor to exit after completion of the project or three years, whichever is earlier, as proposed by the ministry of housing and urban poverty alleviation (MHUPA).

Most housing projects are running one to two years late because of slowdown and shortage of funds because of elevated debt levels.

"Though DIPP is yet to finalise on the relaxation in FDI conditions, but the exit window to developers after project completion seems suitable. However, greater clarity would be needed on the definition of completion," said a government official in privy of the matter.

"Providing an exit door to the foreign investor on project completion before 3 years will be a good sign. This would make entry and exit simpler like it is in other countries. But I am doubtful if it will lead to an immediate dollar inflow", said Anshuman

Magazine, CMD, CBRE, an international real estate consultancy firm. However, industry feels there should not be any exit clause. "Most townships or housing projects take more than 3 years to construct anyways. What difference will the exit on completion make? A foreign investor should be allowed to exit whenever it wants, as per the agreement between him and the Indian player", said RR Singh, director general, National real estate development council.

The other changes under consideration include reducing the minimum capitalization of the eligible construction project in which FDI can come in to $ 5 million against $ 10 million presently for wholly owned subsidiaries and from $5 million to $2.5 million for joint ventures with Indian partners.

MHUPA has also asked for a reduction in the minimum built up area from 50,000 sq mt to 20,000 sq mt. However in case of serviced housing plots, minimum land area may remain the same at 10 hectares.

DIPP is looking into all these but is opposed some of the more liberal proposals like the urban development ministry's suggestion foreign investors be allowed to purchase land and other immovable assets for construction purpose. "This is nearly the same as saying allowing FDI in real estate business, which is not permitted", said the official.

Urban development ministry has also recommended that foreign investment up to 49% be free from any entry condition to attract foreign capital providers that do not have long-term interest in construction assets.

Courtesy: The Economic Times

WINNING STROKES: THINK DIFFERENT

Please Click on the Chart to Expand

MCX Ltd hits the buyer freeze in the opening trade. Those who have taken risk yesterday, must be happy. But, safe investors, should be very careful playing these kinds of counters. Today, the stock got locked in the UC, at Rs.293.05 in the  NSE.

Manappuram Finance Ltd recommended yesterday at Rs.14.80-15, today broke out its long term chart pattern and is moving towards the next intermediate target of Rs.17.50-17.70, before touching Rs.21, in the next few trading sessions. With import restrictions on, the price of Gold is not expected to come down very quickly. In such a scenario, the companies like Manappurram Finance Ltd is expected do well. The scrip today closed at Rs.15.30. CLICK HERE & CLICK HERE.

B F Utilities Ltd confirmed the break-out today, in the daily charts. It seems on Monday it will open a gap up and try to move towards the next target of Rs.145-147, and then subsequently cross Rs.200, in the next few trading sessions. Buoyancy in the wind power sector and the government's thrust in the infrastructure, is positive for the company. Moreover, the new government in Karanataka could also, help solve some of its pending matters. 

Market Mantra

Gitanjali Gems Ltd hits another buyer Freeze in the opening trade. The scrip is locked at the upper circuits at Rs.80.90 in the BSE. The scrip was asked to be accumulated couple of days back at around Rs.73.40. 

A Nifty_Future buy was given at 5430, which gave some returns to the traders as it touched 5450, after the call. Also, yesterday's Nifty_5700 Call Option at Rs.5-5.5, today touched Rs.11.95, much above the target of Rs.9, given yesterday. To know the levels of Nifty_Futures for trading, join my recommended brokerage house and get you everything for free. Also, get support during the market hours. In these kinds of markets when it is becoming difficult even for the experts to make money, it would be dangerous to play, in the market alone; unless one  has sufficient exposure on the same and has done substantial research. Also, why should one waste time on a subject, instead of concentrating on his own job. Always try to remain focused. 

Multi Commodity Exchange of India Ltd. (MCX Ltd) recommended yesterday, at around Rs.268-269, today hit the upper freeze in the opening trade. Those who could buy yesterday, might have hit a JACKPOT, as the stock is expected to give substantial returns from here. Meanwhile, MCX BNP Paribas Arbitrage has acquired 566,000 shares of the company at an estimated cost of Rs.145 million (Rs.14.5 Cr). CLICK HERE.

Bloodbath on Dalal Street: Top 34 stocks that hit 52-week low on BSE-500 index

[Editor: Now all those who were supporting RBI's FAULTY policy on Inflation Control, should be publicly WHIPPED, for at least 2 months in a row, with 50 lashes per day. And what about all those groups of PERVERTED ECONOMISTS, who appear on various channels everyday, to spread POISON among the Indian masses? 

Also, why only blame, Dr.Subbarao for the mess? What about the blue eyed behind the scene villains like, Dr.Subir Gokarn (did maximum damage) and his replacement Dr.P Patel? What about jokers like, Dr.Rangarajan and Dr.K C Chakraborty...? During the last 6 months how many times did we see reputed economists/persons like Dr.Surjit Bhalla, Dr.Kaushik Basu, Dr.Omkar Goswami, Dr.Bimal Jalan, Dr.Acharya, etc on various Television Channels? What about Dr.Manmohan Singh and his deputies? If a RBI team was not performing upto the mark, was it not necessary to remove them, with more competent ones?

Bottomline is that: if you give garbage so importance, then don't except gold from them] 

NEW DELHI: The S&P BSE Sensex fell over 800 points in intraday trade on Friday, while 50-share Nifty index suffered its biggest percentage drop since July 2009. 

The fall was led by sharp selling in frontline stocks on fears of U.S. stimulus tapering which could start as soon as next month may FII flows and capital control measure adopted by the Reserve bank of India also fuelled bearish sentiment. 

The Reserve Bank of India (RBI) announced certain measures late on Wednesday to restrict how much its citizens and companies can invest abroad. This raised fears of outright capital controls that would further undermine the confidence of foreign investors. 

Tracking the momentum that hit 52-week low include stocks like Yes Bank, Bank of India, BHELBSE -10.70 %, L&T, MCX, Punjab National BankBSE -7.00 %, SpiceJet and UCO Bank. 

The Nifty witnessed intense selling pressure and briefly breached 5,500 level in intraday trade as institutional investors booked profits in Indian companies on economic growth, rising interest rate concerns and depreciating rupee. 

Weakness in rupee has been a major drag on markets, hitting fresh record low of 62.03 against the US dollar in intraday trade. 

The 50-share index closed at 5,507.85, down 234.45 points or 4.08 per cent. It touched a high of 5,716.60 and a low of 5,496.05 in trade today. 

The S&P BSE Sensex ended at 18,598.18, down 769.41 points or 3.97 per cent. It touched a high of 19,310.95 and a low of 18,559.65 in trade today. 

Levels of 5500 on the Nifty which is still considered a strong support for the Nifty index may come under threat if rupee continues to depreciate against the dollar, say analysts. 

"The view is very clear that level of 5500 still hold a strong support for the Nifty. In past we have seen many times, markets bouncing back from this level; however the intensity of the bounce is getting lower and lower," said Ashwani Gujral of ashwanigujral.com. 

"There is a tectonic shift that is happening in the markets because of the weakness in rupee. Chances are rupee should head lower towards 64 and that should lead to a breaking of this 5500 to 6100 zone on the downside," he added. 

Gujral is of the view that the more the government/RBI try's to fight the rupee, chances are it will go lower and lower. So this is a fairly difficult situation and chances are that 5500 may not hold for a long time, he added. 

Although, Nifty briefly breached this level in intraday trade today and market is not able to hold onto 5500 level - next target is closer to 5400 and then 5300, say analysts. 

"There is a possibility that markets may crack down to 5300 on the Nifty; yes that is very much possible if the momentum continues," said Dilip Bhat, Joint Managing Director, Prabhudas Lilladher in an interview with ET Now. 

"We may see a sharp rise once again back to 5900 to 6000, yes very much possible and both the scenarios possibly can play out over next three to six months," he added. 

Bhat is of the view that the fear psychosis which is making the markets vulnerable and panicky. Government has imposed some kind of partial control on remittances. 

Foreign institutional investors have been crucial part of the rally in 2012 but in the year 2013, the flows are reversed fuelling bearish sentiment in the market. 

Courtesy: The Economic Times

Gold seen extending gains from two-week high

(Reuters) - Gold futures in India, which hit the highest level in two weeks on Friday, could extend gains on a weak dollar ahead of further monetary easing in the United States.

Weak U.S. growth data has raised expectations the Federal Reserve will keep its bond buying at $85 billion a month, while the European Central Bank is widely expected to announce an interest rate cut when it meets on Thursday.

Accommodative policy is supportive for gold as printing of money tends to be inflationary.

"Overall gold will remain on the upside on loose monetary policy stance by the U.S.," said Sumit Mukherjee, an analyst at Karvy Comtrade.

The actively traded gold for June delivery was 0.17 percent lower at 27,144 rupees per 10 gram on the Multi Commodity Exchange (MCX), after hitting a high of 27,447 rupees on Friday, a level seen on April 15.

Gold may trade in a range of 26,300-27,800 rupees, said Mukherjee.

However, lower physical demand from India after the buying frenzy following a 20 percent drop in prices from the peak, could limit the upside in prices. India will celebrate Akshaya Tritiya next month, while weddings will continue till June-July.

Silver for May delivery was 0.17 percent higher at 45,118 rupees per kg on the MCX.

Silver may trade in a range of 43,400-48,000, said Mukherjee.

(Reporting by Siddesh Mayenkar; Editing by Subhranshu Sahu)

Courtesy: Reutes

Gold prices maintained an upward trend
Those who bought the shares of Manappuram Finance Ltd (BSE Code: 531213, CMP: Rs.17.70) with me, say Cheers!!

Gold prices maintained an upward trend for the fifth-straight day by adding Rs 400 to regain the psychological level of Rs 28,000 per ten grams in the national capital Thursday on strong demand from stockists and traders coupled with marriage season off-take from consumers amid a firming global trend.

Silver also recovered by Rs 500 to Rs 45,500 per kg on increased offtake by industrial units and coin makers.

Meanwhile, gold prices continued their upward momentum in futures trade today and rallied by over Rs 650 points to regain Rs 27,000-level as speculators enlarged their positions tracking a firm global trend.

Silver also regained Rs 45,000-level in futures trade.

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts climbed by Rs 653 to Rs 27,041 per ten grams.

Similarly, silver for delivery in May contracts rallied by Rs 2,282 to Rs 45,174 per Kg.

In another benchmark spot market, Mumbai, gold reclaimed Rs 27,000 per ten grams level on continued physical buying.

Silver also soared on low-level speculative buying and industrial demand, and regained the Rs 45,000 per kg mark.

Gold in overseas markets, which normally set price trend on the domestic front, climbed to the highest level since September last year, as rising central bank and physical purchases countered tumbling assets in exchange-traded products.

Spot gold surged by USD 34.60 or 2.42 percent to USD 1,467.10 per ounce.

Gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Mumbai

Standard gold of 99.5 percent purity shot up by Rs 400 to end at Rs 26,970 per 10 grams from Wednesday's closing level of Rs 26,570.

Pure gold of 99.9 percent purity also surged by a similar margin to finish at Rs 27,110 per 10 grams from Rs 26,710.

Silver ready (.999 fineness) vaulted by Rs 715 to close at Rs 45,315 per kg from Rs 44,600 yesterday.

Chennai

Standard gold price moved higher by Rs 445 to Rs 27,495 per ten grams as against its previous close of Rs 27,050.

Silver also rallied by Rs 745 to Rs 44,795 from Rs 44,050 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 400 each to Rs 28,000 and Rs 27,800 per 10 grams, respectively. The yellow metal had gained Rs 1,250 in the previous four sessions.

Sovereign followed suit and climbed Rs 250 to Rs 24,350 per piece of eight gram.

In line with a general firm trend, silver ready recovered by Rs 500 to Rs 45,500 per kg and weekly-based delivery by Rs 660 to Rs 43,310 per kg. The white metal had lost Rs 800 on Tuesday's trade.

Silver coins also spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts climbed by Rs 653 to Rs 27,041 per ten grams.

Similarly, silver for delivery in May contracts rallied by Rs 2,282 to Rs 45,174 per Kg.

International markets

Gold in overseas markets, which normally set price trend on the domestic front, surged by USD 34.60 or 2.42 percent to USD 1,467.10 per ounce.

In international markets gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.38 percent to 1092.98 tonnes on Wednesday from 1097.19 tonnes on Tuesday. The current holdings are at multi-year low.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai
GOLD: Rs 27,110 (+400)/ SILVER: Rs 45,315 (+715)

Delhi
GOLD: Rs 28,000 (+400), SILVER: Rs 45,500 (+500)

Chennai
GOLD: 27,495 (+445)/ SILVER: Rs 44,945 (+745)

Kolkata
GOLD: 28,600 (+170)/ SILVER: Rs 46,550 (+500)

Bangalore
GOLD: Rs 27,563 (+472) / SILVER: Rs 45,700 (unchanged)

Hyderabad
GOLD: Rs 28,000 (-1000) / SILVER: 48,000 (-1000)

Courtesy: Zee News

Gold Rate Today: Latest Updates

Best Time To Invest In Gold 
or In Gold Loan Companies...?

Recovering from their yesterday's loss, gold prices in futures trade moved higher by Rs.250 Wednesday, tracking uptrend in international markets as solid physical demand encouraged speculative buying.

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts rose by Rs 250 to trade higher at Rs 26,414 per ten grams.

Similarly, Silver for delivery in May contracts increased by Rs 421 to Rs 43,235 per Kg.

Gold prices fell by up to Rs 60 at the Mumbai bullion market today following reduced demand from traders and jewellers. Silver also fell by Rs 550 to Rs 44,600 per kg.

Standard gold of 99.5 percent purity and pure gold of 99.9 percent purity both traded down by Rs 60 and Rs 55 at Rs 26,570 and Rs 26,710 per ten grams, respectively.

Speculative buying after yesterday's fall pushed gold price in international markets higher by 0.86 percent on Wednesday.

Support also came from weak German economic data, which fanned speculation the European Central Bank could cut interest rates.

But strong US dollar coupled with firming equities and continuous decline in holdings by exchange-traded funds looks set to cap prices.

Gold in overseas markets, which normally set price trend on the domestic front, rebounded by USD 15.90 or 1.12 percent to USD 1,429.50 per ounce.

In international markets gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 200 each to Rs 27,600 and Rs 27,400 per 10 grams, respectively. It had gained Rs 1,050 in last three sessions.

Sovereign, however, held steady at Rs 24,100 per piece of eight gram in scattered deals.

On the other hand, silver ready dropped by Rs 800 to Rs 45,000 per kg and weekly-based delivery by Rs 1020 per kg. The white metal had gained Rs 500 yesterday.

Silver coins also plunged by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity and pure gold of 99.9 percent purity both traded down by Rs 60 and Rs 55 at Rs 26,570 and Rs 26,710 per ten grams, respectively.

Silver ready (.999 fineness) declined by Rs 550 to Rs 44.600 per kg from Tuesday''s closing level of Rs 45,150.

Chennai

Standard gold price moved higher by Rs 90 to Rs 27,050 per ten grams as against its previous close of Rs 26,960. Silver however, slipped by Rs 800 to Rs 44,050 from Rs 44,850 per kg.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts rose by Rs 250 to trade higher at Rs 26,414 per ten grams.

Similarly, Silver for delivery in May contracts increased by Rs 421 to Rs 43,235 per Kg.

International markets

Gold in overseas markets, which normally set price trend on the domestic front, rebounded by USD 15.90 or 1.12 percent to USD 1,429.50 per ounce.

In international markets gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.68 percent to 1,097.19 tonnes on Tuesday from 1,104.71 tonnes on Monday. The current holdings are at multi-year low.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai
GOLD: Rs 26,710 (-55)/ SILVER: Rs 44,600 (-550)

Delhi
GOLD: Rs 27,600 (+200), SILVER: Rs 45,000 (-800)

Chennai
GOLD: 27,125 (+90)/ SILVER: Rs 44,050 (-800)

Kolkata
GOLD: 28,150 (+300)/ SILVER: Rs 45,500 (-750)

Bangalore
GOLD: Rs 27,098 (+213) / SILVER: Rs 45,600 (-200)

Ahmedabad
GOLD: Rs 26,270 / SILVER: 44,200

Hyderabad
GOLD: Rs 27,800 (unchanged) / SILVER: 49,000 (+150)

With Agency Inputs 

Courtesy: Zee News

Gold Prices Maintains An Upward Trend For The Fourth-Straight Day

Gold prices maintained an upward trend for the fourth-straight day by adding Rs 200 to Rs 27,600 per 10 grams in the national capital Tuesday on sustained buying by stockists and retailers.

Gold prices in futures trade however, failed to maintain their winning streak and fell by up to Rs 200 per ten grams amid down trend in international markets as more outflows from gold exchange-traded funds summed up investors' weakening confidence in the metal.

At Delhi spot market, Silver lacked necessary follow up support and dropped by Rs 800 to Rs 45,000 per kg.

Gold in overseas markets, which normally set price trend on the domestic front, moved lower by USD 14.30 or 1 percent to USD 1,412 per ounce.

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts fell by Rs 245 to trade lower at Rs 26,112 per ten grams after moving in range of Rs 26,062-26,448.

Similarly, Silver for delivery in May contracts dropped by Rs 947 to Rs 42,740 per Kg after moving in range of Rs 42,338-43,484.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 200 each to Rs 27,600 and Rs 27,400 per 10 grams, respectively. It had gained Rs 1,050 in last three sessions.

Sovereign, however, held steady at Rs 24,100 per piece of eight gram in scattered deals.

On the other hand, silver ready dropped by Rs 800 to Rs 45,000 per kg and weekly-based delivery by Rs 1020 per kg. The white metal had gained Rs 500 yesterday.

Silver coins also plunged by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity and pure gold of 99.9 percent purity both settled down by Rs 70 and Rs 75 at Rs 26,630 and Rs 26,765 per 10 gm, respectively.

Silver ready (.999 fineness) fell by Rs 1,030 to Rs 45,150 per kg from Monday's closing level of Rs 44,955.

Chennai

Standard gold price moved higher by Rs 90 to Rs 27,050 per ten grams as against its previous close of Rs 26,960. Silver however, slipped by Rs 800 to Rs 44,050 from Rs 44,850 per kg.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), yellow metal for delivery in June contracts fell by Rs 245 to trade lower at Rs 26,112 per ten grams after moving in range of Rs 26,062-26,448.

Similarly, Silver for delivery in May contracts dropped by Rs 947 to Rs 42,740 per Kg after moving in range of Rs 42,338-43,484.

International markets

Spot gold moved lower by USD 14.30 or 1 percent to USD 1,412 per ounce. Gold in overseas markets had touched its lowest level in more than two years of USD 1,321.35 on last Tuesday.

Gold ETF

Holdings on SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, tumbled to their lowest level since early 2010, which indicated that some investors were shifting their money into equities.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai
GOLD: Rs 26,765 (-75)/ SILVER: Rs 45,150 (-1030)

Delhi
GOLD: Rs 27,600 (+200), SILVER: Rs 45,000 (-800)

Chennai
GOLD: 27,125 (+90)/ SILVER: Rs 44,050 (-800)

Kolkata
GOLD: 28,150 (+300)/ SILVER: Rs 45,500 (-750)

Bangalore
GOLD: Rs 27,098 (+213) / SILVER: Rs 45,600 (-200)

Ahmedabad
GOLD: Rs 26,270 / SILVER: 44,200

Hyderabad
GOLD: Rs 27,800 (unchanged) / SILVER: 49,000 (+150)

Courtesy: Zee News with Agency Inputs

WINNING STROKES: THINK DIFFERENT

ARSS Infrastructure Ltd hit the upper circuits before closing at around Rs.45.95 on the BSE. Yesterday, it was strongly recommended a buy, after my sources gave positive news on the company. I am expecting the scrip to cross Rs.60, in the coming days, provided the markets do not crash. The Real Estate/Construction stocks of all hues should be accumulated as the RBI is expected to cut the interest rate in the coming days, to prop up the sagging economy. This is the sector to be focused. Also, any negative news in the cement sector is positive for the real estate/construction sector. 

The gold fell as was expected in the MCX. Those who have shorted the scrip, must be laughing their way to the banks. I am expecting it to fall further as the government takes steps to revive the sentiments of the Indian Capital Markets.  
Prajay Engineers Syndicate Ltd hit the buyer freeze today. The company is doing lot of projects and its current price does not depict the true value of the scrip. According to my estimation, the scrip should trade above Rs.30. It's 3 star-hotel has started to function and other projects are going on stream. It has huge pile of land banks, whose value is more than few thousand crores. The share price of such a company should not trade at such a dismal price. 

On the 28th June, mail to the Paid Members, it was clearly said the following, "Some volatility can be seen in market due to F&O expiry today. Ability of Bulls to sustain above the support level of 5100 is a sign of strength. Long positions can be hold on to with a stop below 4970". Those who have bought the Nifty Futures, based on this news have covered up the cost of Paid Service in just one call. Join the Paid Service or my Brokerage House (Free account opening for investments above Rs.2 lakhs) to get maximum out of this market. This market has off late become the den of highly-professional-participants  and therefore it could be dangerous to try your hands in the stocks without proper expert advice or guidance or research.  
Kohinoor Broadcasting Corporation Ltd hit the buyer freeze as it touched Re.0.66. I think most of you have increased your holdings in the last few months, as this could be one of the golden opportunities (or life-time opportunity) to accumulate the scrip at such a low price. The company is going stronger and stronger day by day. The promoters are now making plans to launch the 2nd channel, KBC Gold at the earliest. Its solar (Renewable) energy projects are also going fine. It is in the final stage of tying up with some companies in this respect.  
The following calls were given to the Paid Group members on 28th June, 2012. 
(i) Buy Tata Steel at Rs.417--418, T--Rs.430, SL--Rs.410

(ii) Buy IDFC Ltd at Rs.134, T--Rs.139, SL--Rs.130. 

Today Tata Steel Ltd touched Rs.443.90 way above the target and IDFC Ltd touched Rs.136.85 today, intra-day (almost near the 1st target).  

The excerpts of that forwarded mail is still there in the free group (SumanSpeaks) at:
http://finance.groups.yahoo.com/group/SumanSpeaks/message/16815