WINNING STROKES: THINK DIFFERENT

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Rolta India Ltd, recommended at around Rs.92.75 to the Premium Group members on 16 December 2015, touched Rs.99.30, intra-day and closed at Rs.98.65. Tell me how many of the Free Members also made money, because the stock was also recommended in this blog at Rs.95.50? Now what to do with the scrip? Confused? Join the Premium Service!!

The price of my Paid Package/s is/are expected to increase from 15 January, 2016. Those who will enroll before that will get the subscription not only at the earlier price tag, but will also get 3 months grace. Which means the price will be Rs.10, 000 per year, for 15 months. Moreover, those who will trade through my recommended brokerage house, with a minimum portfolio size of Rs.1 lakhs, will get the Premium Subscription Free of Charge, till he/she continues trading through this platform...Also, those who are willing to invest around Rs.10-15 lakhs in share market, do let me know; I have a scrip which could double in the next 12-18 months (or may be before that). We just need to buy this scrip and keep holding. The profit will be shared in a mutually agreed ratio, between you and my firm.

Vedanta Ltd, recommended on 19 December, 2015, at Rs.84.30, today touched Rs.87, intra-day and closed at Rs.86.55. The stock will break Rs.96-97, soon; remain invested. 

TV18 Broadcast Ltd recommended on 26 October 2016, at Rs.32.75 in this Free Blog, today touched Rs.46.25, intra-day (which is the new 52-week high) and closed at Rs.45.80. Congratulations to all those who made money in this scrip. Keep visiting this blog and make money. 

Pipavav Defence Ltd today touched Rs.82 and closed at Rs.79.10, on the BSE-kindly book profits and enter either Vedanta Ltd at Rs.86.55 or Hindalco Industries Ltd at Rs.81.20.

The Stock of Gitanjali Gems Ltd (Rs.42.95) has started to look good once again. Keep buying the scrip on all declines, for a short term target of Rs.48.

DO YOU KNOW?

Photo: Maffat.com

Vedanta Ltd is a diversified natural resources company. The Company's International arm, Vedanta Resources Plc  is engaged in exploring, extracting and processing minerals and oil and gas. Its segments include Zinc-India, Zinc-International, Oil & Gas, Iron Ore, Copper-India/Australia, Copper-Zambia, Aluminum and Power. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas and commercial power and has presence across India, Zambia, South Africa, Namibia, Ireland, Australia, Liberia, United Arab Emirates and Sri Lanka. The Company is also in the business of port operations in India. The Company's zinc operations are located in India, Namibia, South Africa and Ireland. The Company's iron ore operations are located in India and Liberia. The Company's copper smelting and mining operations are located across India, Australia and Zambia.

The promoters' holding in Vedanta Ltd, stood at 59.52 % while Institutions and Non-Institutions held 22.99 % and 9.91 % respectively.  

Vedanta Ltd is the only company who has resumed iron ore mining in Goa after the Supreme Court lifted its 2012 ban. The company resumed mining operation in the state in August this year.  

However, the rates at which iron ore is to be transported is the bone of contention between the mining companies and truckers. The issue started with the transportation of e-auctioned iron ore. The state government had sold a total of 7.4 million tonne of iron ore through 13 e-auctions out of the 16.56 million tonne identified for e-auction. The directorate of mines and geology had notified a rate of Rs.12.33 per tonne per km for the transportation of the e-auctioned ore on April 21. Around 1,300 trucks were engaged to transport e-auctioned and freshly mined ore from Codli to Amona/Surla by Vedanta Ltd.

Now, while, the Truck Owners Association is demanding a rate of Rs.17.63 per km, the mining firms, already reeling under the impact of a meltdown in iron ore prices and plethora of taxes, have offered to pay Rs.8 per km. 

According to Aniruddha Joshi head, corporate affairs, Vedanta Ltd, around 600 truck owners have already agreed to ply at the rate of Rs.8 per tonne per km. This brings some visibility, in the ongoing tussle between Vedanta Limited and truck owners transporting iron ore.

Therefore, the stock at the CMP of Rs.84.30, remains one of the best buys for the next 2-3 months perspective, with a SL of Rs.77 and a target price of Rs.109. 

You must have remembered that I recommended Pipavav Defence Ltd at Rs.38.75, as a sure shot BUY for 18 months  price-target of Rs.90; on 27 September, 2014 (amid all so-called-uproars and acquisitions of pumping up a loss-making-no-future-company).

I then asked all the long term investors to accumulate the scrip on all declines. After that Pipavav Defence Ltd, had almost doubled from the recommended rate, made a 52-week high of Rs.85 and is now trading at Rs.79.45. 

In a similar way, the long time investors will see  value additions, in their investments in Vedanta Ltd from the CMP of Rs.84.30, over a period of time. It is a must BUY, for all the long term investors.

WINNING STROKES: THINK DIFFERENT

Jindal Saw Ltd touched Rs.86.15 intra-day and closed at Rs.84.65 giving a break-out on the daily candle stick chart. Today it also closed above its 150D EMA. Moreover, 100D EMA is above its 200D EMA, further adding to the bullishness. The next targets for the scrip are Rs.92-97--stay invested. 

Pipavav Defence and Offshore Eng Ltd today closd at Rs.83.30 just a tad below its 52-week high price of Rs.85 made yesterday. The investors should book some profits and hold the rest with a SL of Rs.79.

UCO Bank Ltd recommended around Rs.70.50 last week today touched Rs.73.25 intra-day before closing at Rs.72.30 up 2.33%. The next targets for the scrip are Rs.77-85. Stay invested, with a SL of Rs.67.

Resurgere Mines and Minerals Ltd today hit 20% Upper Circuits at Rs.1.57, on the speculation that the government of India could reduce export duty on iron ore fines along with other low grade ores (including bauxite), in the coming budget. The company is an expert in mineral trading, if this norm is really relaxed, then the whole dynamics of the company could get a positive boost.
Rohit Ferro Tech Ltd today touched Rs.9.75, before closing at Rs.8.93, up 6.95%. The scrip will invariably move towards Rs.12-14, as the government in all probability will come up with positive measures to boost the domestic steel sector. Buy the scrip in every decline and wait for it to close above the resistance zone of Rs.9.2-9.3. 
The realty major Unitech Ltd inched up today and closed flat at Rs.18.40, even though the major indices were down. The company came out with good set of Q3FY15 numbers. Last week, the company had reported a 32% increase in consolidated net profit at Rs.43.33 crore for the quarter ended December 2014 due to lower operational expenses and interest outgo. Its net profit stood at Rs.32.82 crore in the year-ago period. Income from operations, however, declined marginally to Rs.704.56 crore in the third quarter of this fiscal from Rs.731.67 crore in the corresponding period of the previous year. Total expenditure fell to Rs.661 crore from Rs.716 crore during the period under review. Finance costs declined to Rs.7.33 crore from Rs.28.06 crore in the year-ago period. Unitech had said it has a healthy balance sheet with a net debt to equity ratio of 0.57. Net debt as of December 31, 2014 was Rs 6,300.84 crore. Unitech launched 0.64 million sq ft while delivered 3.04 million sq ft area in the first three quarters of this fiscal. The stock today closed above its 50D and 100D SMAs. It also closed above 50D EMA and closed just below its 100D EMA which is placed at Rs.18.54. The investors should accumulate the scrip on all declines, for the next targets of Rs.22-24. In a chat with ET Now, Mitesh Thacker of www.miteshthacker.com, has already given a BUY on Unitech Ltd with a stop loss of Rs.17.5 for target of Rs.19.20
Rasoya Proteins Ltd today hit the upper circuits in the BSE at Re.58, during the mid-afternoon trade but suddenly came down due to operator action. The stock closed at Re.0.55 in the BSE down 1.79%. Though the scrip closed marginally down, but this does not give any hint of the trading activities during the day. I do not understand why the surveillance system of the regulator is not able to nab the manipulators; which I can detect without any software in place. Today, the percentage of Deliverable Quantity to Traded Quantity was also not bad at 43.22%. However, unless, the operator activity in the stock is stopped, it will not move up. The modus operandi of these  guys are simple: they will sell the shares of the company in the morning to the traders, after initiating FAKE BULK DEALS and then start synchronized selling at the end of the day, pulling down the scrip. Everyday, you would find fake bulk deals of very small amounts effected to give a feel good effect on the stock, to the gullible investors. SEBI is requested through this blog, to take a special note of my views on trading activities in the scrip, on the behalf of small investors and take strong action against this group. 

Market Mantra

Jindal Saw Ltd recommended yesterday at around Rs.77-78, today touched Rs.83.45, intra-day and is now trading at around 82.30. The scrip should do well in the coming days, as the company has been coming up with good set of numbers since the last couple of quarters. 

Today's call: High Risk Taking traders can buy Rasoya Proteins Ltd (BSE Code: 531522) in NSE at R.0.60 (60 paise) or BSE at Re.0.59. This is an A-group company but due to some management issues, the scrip came down from Rs.20.80 to Re.0.57. But now it has started to show some upward movements. This is a solvent extraction company based out of Maharashtra and operates in Soya Products (Soya Cakes and Soya Oil). A group of operators are playing with this scrip since the last few months and hence the regulators like SEBI should take actions against them. How is that the surveillance mechanisms of major stock exchanges in India (BSE and NSE) are not able to detect such high level manipulations? SEBI should either stop trading in the counter or make efforts to stop high scale operator activities. However Safe players should avoid this scrip.

Firstsource Solutions Ltd today touched Rs.33.70, intra-day and is now trading at Rs.33.20. The company came out with flat numbers for the Q3FY15 and hence, I had put a hold on the scrip.

My recommended Pipavav Defence and Offshore Eng Ltd today (19/02/2015) made a new 52-week at Rs.85.00 and is now trading at Rs.78.75. It reached all its short term targets and nearly touched its medium term target of Rs.90, in just few months of my recommendation. The investors should do well to book some profits now.
In the Budget-2015, the government is likely to come up with some sops for the steel (and Ferro-alloys) sector. In such a scenario, Rohit Ferro Tech Ltd (Rs.8.40)  is a must buy for a target of Rs.12-14. 

BSE Small-Cap index up more than 1%

[Editor: Buy Jindal Saw Ltd at Rs.77--78, for short term targets of Rs.82-84. The price of crude oil has started to inch upwards, as was expected--in such circumstances, the SAW Pipe sector should do well. The scrip has already found a support around Rs.76-77 ranges and from today's movement it seems that this level will hold. During the Q3FY15, the profit of the company rose 23.74% to Rs.619.20 million from Rs.500.40 million  in the same quarter last year. Net sales for the December 2014, quarter  rose marginally by 3.97% to Rs.17,774.30 million, compared with Rs.17,096 million for the prior year period. Meanwhile, the DIIs have increased their stake in the company to 13.13% in the December 2014 quarter as compared to 11.94% in the September, 2014 quarter. Moreover, today recommendation came from a brokerage house to buy Jindal Steel and Power Ltd at Rs.156 for a target of Rs.162] 

February 18, 2015:  After a rangebound movement in mid-morning trade, key benchmark indices trimmed gains in early afternoon trade. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was currently up 127.67 points or 0.44% at 29,263.55. The BSE Small-Cap index was up 1.01%, outperforming the Sensex. Asian stocks edged higher amid speculation Greece will resolve its standoff with creditors.

Meanwhile, the yearly SBI Composite Index, a leading indicator for tracking primarily manufacturing activity in Indian economy, inched up to a 2-month high of 52.9 (moderate growth) in February 2015 from 52.1 (moderate growth) in January 2015.

Capital goods stocks rose. Shares of power generation companies were also in demand.

Earlier, Sensex hit its highest level in almost three weeks in mid-morning trade as the two key benchmark indices -- the Sensex and the 50-unit CNX Nifty -- extended initial gains.

Foreign portfolio investors sold shares worth a net Rs 182.80 crore during the previous trading session on Monday, 16 February 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 280.77 crore on Monday, 16 February 2015, as per provisional data. The stock market was closed yesterday, 17 February 2015, on account of Mahashivratri.

In overseas markets, Asian stocks edged higher amid speculation Greece will resolve its standoff with creditors. In the US, the S&P 500 eked out a small gain yesterday, 17 February 2015, to close at a record level for the second time this year, after reports emerged that Greece may ask for a six-month extension on its debt obligations.

In the foreign exchange market, the rupee edged lower against the dollar.

Brent crude oil futures edged lower amid oil supply glut. Nevertheless, global crude oil prices have bounced back over the past few days after a steep slide in prices over the past few months. The recent rebound in global crude oil prices will raise concerns pertaining to India's fiscal deficit, current account deficit and fuel price inflation. India imports about 80% of its crude oil requirements. On 15 February 2015, Indian Oil Corporation announced increase in petrol price by 82 paise per litre in Delhi (including state levies) and diesel price by 61 paise per litre.

At 12:19 IST, the S&P BSE Sensex was up 127.67 points or 0.44% at 29,263.55. The index jumped 200.20 points at the day's high of 29,336.08 in mid-morning trade, its highest level since 30 January 2015. The index fell 8.97 points at the day's low of 29,126.91 at the onset of trading session.

The CNX Nifty was up 29.90 points or 0.34% at 8,839.25. The index hit a high of 8,862.20 in intraday trade. The index hit a low of 8,808.90 in intraday trade.

The BSE Mid-Cap index was up 61.04 points or 0.57% at 10,799.03. The BSE Small-Cap index was up 113.26 points or 1.01% at 11,359.71. Both these indices outperformed the Sensex.

The market breadth indicating the overall health of the market was positive. On BSE, 1,504 shares advanced and 1,107 shares declined. A total of 93 shares were unchanged.

Capital goods stocks edged higher. Suzlon Energy (up 14.16%), Pipavav Defence and Offshore Engineering Company (up 13.17%), Punj Lloyd (up 7.42%), Bharat Electronics (up 5.34%), BEML (up 4.63%), Lakshmi Machine Works (up 1.93%), ALSTOM India (up 1.84%), SKF India (up 1.61%), Jindal Saw (up 1.44%), Praj Industries (up 1.01%), AIA Engineering (up 0.89%), ABB (up 0.45%), Havells India (up 0.17%) and Crompton Greaves (up 0.09%) edged higher.

Bharat Heavy Electricals (down 0.04%), Alstom T&D India (down 0.16%), Siemens (down 0.59%) and Thermax (down 0.89%) edged lower.

Index heavyweight and engineering and construction major Larsen & Toubro was up 1.33%.

Shares of power generation companies were in demand. GMR Infrastructure (up 2.46%), Tata Power (up 2.14%), Reliance Power (up 2.08%), NTPC (up 2.05%), Adani Power (up 1.68%), JSW Energy (up 1.38%), Reliance Infrastructure (up 1.03%), NHPC (up 0.97%) and Torrent Power (up 0.76%) edged higher.

Jaiprakash Power Ventures rose 8.08%. The company won the Amelia North coal block in Madhya Pradesh for Rs 712 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal yesterday, 17 February 2015.

CESC fell 1.79%. The company said on Tuesday, 17 February 2015, that following an e-auction conducted by the Ministry of Coal, Government of India on 15 February 2015 and the results thereof since posted on the Ministry's website, CESC has submitted the closing bid of Rs 470 per metric tonne (MT) for Sarisatolli coal mine in the state of West Bengal. A formal letter to the company from the Ministry allocating the said mine is expected in due course, CESC said.

The coal ministry has started auctioning coal blocks after the Supreme Court in September last year cancelled the allocation of more than 200 coal mines allotted between 1993 and 2010 after ruling that they were arbitrary and illegal.

Sundaram Finance fell 0.13% to Rs 1,545. The company announced during trading hours that Sundaram Finance (SFL) and RSA Group, UK, (RSA) have reached an agreement whereby RSA has agreed to sell its entire 26% equity stake in Royal Sundaram Alliance Insurance Company (RS), to SFL, for a consideration of Rs 450 crore, subject to all regulatory approvals. Sundaram Finance currently holds 49.9% in RS. After the completion of the transaction, Sundaram Finance and its associates would hold 100% of the shareholding of RS.

RS, the first private sector non-life insurance company to be granted a licence, in the year 2000. RS is a leading player in the general insurance sector in India.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 62.255, compared with its close of 62.1575 during the previous trading session on Monday, 16 February 2015. The foreign exchange market was closed yesterday 17 February 2015, on account of Mahashivratri.

Brent crude oil futures edged lower amid oil supply glut. Brent for April settlement was off 35 cents at $62.18 a barrel. The contract had risen $1.13 a barrel, or 1.84% to settle at $62.53 a barrel during the previous trading session.

Meanwhile, the yearly SBI Composite Index, a leading indicator for tracking primarily manufacturing activity in Indian economy, inched up to a 2-month high of 52.9 (moderate growth) in February 2015 from 52.1 (moderate growth) in January 2015. In contrast, the monthly index slipped to 48.3 (low decline) in February 2015 from 52.1 (moderate growth) in January 2015. The sharp contraction in the month on month index may be attributed to less number of working days in February compared to January, according to Ecowrap which is an economics research publication from State Bank of India (SBI). According to Ecowrap, a revival in automobile sales, capital goods and consumer non-durables productions and possible upturn in the credit offtake by the large corporates segment highlights possible recovery in the economic activity in coming months. Consumer durable sales have not yet bottomed out. Bank credit and deposits continues to remain sluggish. Interestingly, growth in credit card outstanding continues to push up credit growth. The contraction in the in the monthly index could probably drag down the yearly index after a while, according to Ecowrap.

According to Ecowrap, benign wholesale as well as retail inflation accompanied by a lower cost of borrowing is expected to boost positive sentiment in the economy in coming months and possibly drive credit cycle and growth.

The next major event for the financial markets is Union Budget for 2015-16. Finance Minister Arun Jaitley will present Union Budget 2015-16 in Parliament on 28 February 2015. Analysts will scrutinize measures in the Budget for financing infrastructure projects as well as the government's own capital expenditure on infrastructure for the year ahead. This is the first full fledged Budget of the Narendra Modi government and analysts will look for a roadmap for economic growth for the next few years.

Changes in rates of dividend distribution tax, capital gains tax on sale of shares, Securities Transaction Tax (STT) and Minimum Alternate Tax (MAT), if any, will be closely watched. The dividend distribution tax is currently at 15%. The minimum alternate tax is currently at 18.5% of book profits. Short term capital gains tax on sale of shares is currently at 15% while there is zero long capital gains tax on sale of shares held for a period of more than one year.

The upcoming Budget session of the parliament assumes utmost importance as the government intends to replace the ordinances it had promulgated after the conclusion of the winter session of the parliament with Bills and get them cleared by both Houses of Parliament during the budget session. The Narendra Modi government promulgated a slew of ordinances after the last session of Parliament. Some of the key ordinances include raising the FDI in the insurance sector from 26% to 49%, e-auctioning of coal mines and amendment to the Land Acquisition Act.

The government has already started auctioning coal blocks for captive mining. The Coal Mines (Special Provisions) Bill that was moved to replace an ordinance issued earlier was passed by the Lok Sabha in the winter session but it could not be taken up in the Rajya Sabha. The government promulgated the Coal Mines (Special Provisions) Ordinance, 2014, in October to facilitate coal block auctions after the Supreme Court cancelled 204 coal blocks in September.

Through another ordinance, the government has raised the ceiling on foreign investment in the insurance sector to 49% from 26%. The government was unable to get the Insurance Laws (Amendment) Bill, 2008, passed in parliament during the winter session.

Amendments to the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 were brought in via an ordinance after the winter session of the parliament.

Analysts are also awaiting further progress on the Goods and Services Tax (GST) in the Budget session after the Constitution Amendment Bill for the introduction of GST was tabled in the Lok Sabha during the winter session of parliament. GST, touted as the single biggest indirect taxation reforms since independence, will simplify and harmonise the indirect tax regime in the country. Central taxes like Central Excise Duty, Additional Excise Duties, Service Tax, Additional Customs Duty (CVD) and Special Additional Duty of Customs (SAD), etc. will be subsumed in GST. At the state level, taxes like VAT/Sales Tax, Central Sales Tax, Entertainment Tax, Octroi and Entry Tax, Purchase Tax and Luxury Tax, etc. would be subsumed in GST.

Asian stocks edged higher today, 18 February 2015, tracking gains in the US as fears eased over Greece leaving the eurozone. Key benchmark indices in Hong Kong, Indonesia, Japan and Singapore were up 0.16% to 1.18%.

The stock market in mainland China is closed for this entire week starting today, 18 February 2015, for the Lunar New Year holiday. The stock market in Hong Kong is open for trading for only half day today, 18 February 2015, and remains shut for the rest of the week for the Lunar New Year holiday.

In Japan, the Bank of Japan (BoJ) today, 18 February 2015, stood pat on its policy and painted a rosier picture of economic conditions, despite recent poor growth data and an inflation rate that is moving away from its 2% target. After the latest policy meeting, the BOJ's policy board voted 8-1 to keep unchanged the size of the bank's annual asset purchases worth 80 trillion yen ($670 billion), its main tool to generate higher inflation.

The central bank signaled that it mostly believes that the Japanese economy has finally overcome a hit from the government's move to raise the sales tax. Specifically, the BOJ removed for the first time its reference to the tax increase from the main language in its monthly economic assessment.

Trading in US index futures indicated that the Dow could gain 11 points at the opening bell today, 18 February 2015. US stocks closed slightly higher Tuesday, 17 February 2015, as investors continued to monitor talks between Greece and its creditors in hopes that a deal will be reached to keep the country from falling out of the eurozone.

In Europe, Greece may reportedly request a six-month extension on its debt obligations. According to reports, the newly elected Greek Prime Minister Alexis Tsipras will today, 18 February 2015, request an extension on the country's loan agreement. Talks are continuing between Greece and its international creditors on the conditions that would be attached to the extension of the loan accord, according to reports. Greece is scrambling to reach a deal with creditors before it runs out of cash. Greece's current bailout plan expires on 28 February 2015.

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Reliance Communications Ltd: Buy

CMP: Rs.75.10

Anil Dhirubhai Ambani-owned company, Reliance Communications Ltd (Rs.75.10) which is India's fourth largest mobile phone operator by subscribers, reported an 85% jump in net profit for Q3FY15, boosted by lower cost of financing debt and as more of its subscribers used the pricier data services.

It posted a net profit of Rs.201 crore for the October-December period. Revenue rose 1.2% on year to Rs.4,799 crore. The company's net finance cost fell to Rs.652 crore from Rs.749.3 crore a year back. In May, Reliance Communications raised Rs 6,000 crore from a share sale to institutional investors to reduce its debt and ready itself for the upcoming airwave auction. It used funds raised from the sale of shares to institutional players to repay loans earlier this financial year.

According to the Economic Times, 14 February, 2015: 

The telecom industry in India has benefited from reduced competition ever since the Honorable Supreme Court cancelled 122 licences in February 2012, which allowed operators to cut down on promotional offers such as free-call minutes and raise effective call rates. Additionally, a surge in the use of smartphones has pushed up the use of premium high-margin data services. These have helped most telcos improve their key parameters such as average revenue per user (ARPU) and average realisation per minute (ARPM). The carrier's data customer base grew 5.7% to 31.4 million, of which 16.7 million were on its 3G services. Total data traffic increased 16.2% on quarter and 83.3% on year, due to a rise in data subscribers and higher data usage per customer, the company said. Data services offered at a premium and add to the spending per customer, making them more lucrative for telecom companies.

Reliance Communications had net debt of Rs.36,330 crore ($5.9 billion) at the end of September, 30, 2014, down from Rs.40,220 crore three months earlier, according to a company filing. 

The company may also bid in a government auction of wireless spectrum next month, which is expected to raise as much as $15.6 billion from service providers and put at risk their efforts to reduce borrowing, ICRA Ltd said in January. All licenses held by the company in the most popular 900 megahertz frequency band are up for renewal, according to the local arm of Moody’s Investors Service. 

Recently, there were media reports that  Reliance Communications has awarded a contract for technology overhaul of its business process outsourcing centres to US communications systems major Avaya for an undisclosed sum. A person familiar with the matter, however, said the contract may mean an outflow of Rs.400-500 crore for Reliance Communications (RCom) over three months, followed by about 15% of that to service it over the next three years. Under the agreement, Avaya will modernise tools, processes and best practices resulting in operational efficiencies by managing cost through consolidation.

Another person familiar with the deal said the move was in anticipation of work from Reliance Industries' Jio Infocomm. Reliance Communications Ltd (RCom) has a deal with Mukesh Ambani-owned Jio, under which RCom will manage the call centre operations for Jio. The Jio agreement also said RCom would upgrade its technology and fibre for the purpose. At the moment, RCom uses its legacy IVR, or interactive voice response system. Technology today allows more efficient approaches to ensure fewer drops and call back options to maintain continuity of conversation.

Besides, according to The Financial Express, 10 February, 2015:

Facebook has tied up with Reliance Communications to offer free access to subscribers of Anil Ambani-led firm to the social networking site as well as about three-dozen general information websites. Besides accessing Facebook, RCom subscribers can also access 33 websites offering news and information on weather, jobs, government services, and health without incurring data charges.

According to the Deccan Herald, 17 February, 2015:

Reliance Communications Ltd, part of the Anil Ambani-led group, which is the global telecom sponsor of the ICC World Cup 2015, has partnered with Twitter to provide its customers with a platform to follow the global commentary as the world's 14 best cricketing nations compete for the tag of the champion team, with no data charges. Customers who do not have a Twitter account can also access cricket-related Tweets by logging on to www.rcom.co.in/cricket on their mobile phones throughout the duration of this global event -- from Feb 13 to March 31, 2015, a company statement said here Tuesday. 

According to the Reuters, 17 February, 2015: 

India's Reliance Industries  and seven other firms including top mobile phone operator Bharti Airtel  have applied to participate in next month's auction for mobile phone airwaves, several people directly involved in the process said.

All these makes Reliance Communications Ltd as one of the most happening stocks in the telecom sector.. The scrip should cross Rs.100, within the next six months. The investors are strongly suggested to buy the stock at the CMP of Rs.75.10, for a short term target of Rs.84-97. This could be another Pipavav Defense and Offshore Eng Ltd (Rs.69.10), which was recommended on September 28, 2014 at Rs.38.75; after which it made a 52-week high of Rs.74.40 on 12/02/2015.

Market Mantra

Unitech Ltd (Rs.18.50), today moved up by more than 12% intra-day and touched Rs.19, after strong Q3FY15 numbers. It was mentioned in the last report that the shares of the company would gain positive momentum on Monday, following good quarterly numbers. The stock is now trading at Rs.18.50, up more than 11%.

Today's call: Buy Reliance Communications Ltd at Rs.75--76, for a short term target of Rs.82. The company came out with superb Q3FY15 numbers. A brokerage house has confirmed a BUY on Reliance Communications for a target of Rs.82-84.. 
The shares of Allied Digital Services Ltd tanked to Rs.21.40, intra-day today and is currently trading at Rs.22.75, down more than 11%. If you remember I had given a sell on the counter above Rs.30, based on some recent developments, asking all to book complete profits.
Pipavav Defense and Offshore Ltd today touched my 3rd target of Rs.72 and is currently trading at Rs.68.80. Earlier there were media reports that  Mahindra & Mahindra, one of India's largest diversified conglomerates, is set to purchase a majority stake in Pipavav Defence and Offshore Engineering (PDOE) for roughly Rs.3,000 crore at Rs.66 a share in a three-phase deal. Along with debt of around Rs.6,800 crore and fresh equity that will be issued, the deal is seen as having an enterprise value of Rs.12,000 crore, they said.

WINNING STROKES: THINK DIFFERENT

Please Click on the Chart to Expand

FIIs/FPIs  and DIIs turned out to be net sellers today also, however, the momentum (of selling) has come down a bit. The FIIs/FPIs sold Indian equities worth Rs.83.8 Cr while the DIIs sold shares worth 72.35 Cr. The next support for Nifty comes around the psychological level of 8700. However, today's candle stick pattern showing three black crows with a "Doji" in between, is not giving too much room for the bulls. Also, PVO cutting the signal line from top and same in case of MACD does not augur too well for the bulls, If the correction continues even tomorrow, then the next logical level of Nifty comes around 8600. Having said this I would like to reiterate that since 50D EMA is higher than 200D, 150D and 100D EMAs, the bears will not be able to conquer the Bulls too easily. This is some sort of solace for the battered bulls. In the weekly chart too, the Nify support comes around 8600. If this is broken on the downside, the next support come around 8430. However, some of the oscillators are showing slightly oversold though a clear buy is yet to be given on the daily chart. The correction which started with a shooting star formation followed by dark-cloud cover is giving too much pains to the bull army. The traders are suggested to lighten their position in the large caps and invest in the small and mid cap space. 

Rohit Ferro Tech Ltd which moved intra-day to Rs.8.96, closed flat at Rs.8.77. As mentioned a number of times earlier, the government of India is likely to bring in a slew of measures to aid the domestic steel sector, very soon. Hence, in any case the stock would move up from here. The investors are suggested to buy the shares of the company in bulk and keep holding. 

Yesterday, C Mahendra Exports Ltd was recommended at around Rs.14.20, for a target of Rs.17. However, today at the end of the day, the scrip came down to Rs.13.69. This is normal for this stock and the investors should do well to accumulate the scrip before the Q3FY15 results. I will speak with the sources again tomorrow. 

Today, the block-buster BPO company, Firstsource Solutions Ltd which touched intra-day at Rs.33, closed at Rs.31.50, showing further bullishness on the chart. The scrip will be slowly moving towards Rs.41-42, in the coming days. The Q3FY15, results according to my close sources, will be along the expected lines. 

Today, I took some shares of Unitech Ltd (Rs.19.25) for some of my friends whose account I manage from my end in Bombay (Mumbai). Unitech Ltd is India's 2nd largest real estate company and hence it should trade above its book value of Rs.37.72. The shares fell after the company got embroiled in some controversies. However, it has come out of that phase and should move up in the coming days. I am expecting the scrip to touch Rs.31-32, by the end of next week. Stay invested. 

Overall most of my earlier recommended counters did well: 

(i) Anant Raj Moved to Rs.52+, intra-day

(ii) Pipavav Defence Ltd closed above Rs.50

(iii) J P Associates Ltd closed at Rs.28.50 and J P Power Ltd closed at Rs.12.04 after touching Rs.12.33, intra-day. 

(iv) ARSS Infrastructure Ltd closed at Rs.51.90. 

(v) Resurgere Mines and Minerals Ltd closed at Rs.1.30--the bears failed to pull it down further, inspite of bad publicity by vested groups in various platforms.

(vi) Jindal Saw Ltd touched Rs.85.35. intra-day. 

Do you know ?

Why did the loss making and pledged share company Pipavav Defence and Offshore Engineering Ltd suddenly moved up this week and touched Rs.60.25 in the BSE, without the presence of any fresh positive news? The stock was finding difficulty to cross even Rs.47, when so many positive news on defence came-out. But when there is no news, it suddenly spurted. And that in such a ways that in two days, the scrip gave more than 25 per cent returns. Why? Any guesses?

Yes, it is because an OPERATOR named Sudarshan Sukhani, asked the investor community to buy the scrip in a Business Channel. Bass!! The movement started. Television is a powerful instrument of mass communication and the operators have been slyly using it, to give artificial movement in the scrips. Anyway, he did a favour to me also: all my recommended levels in this stock, was completed much ahead......Huh!! 

You will find lot of these disguised operators (masked as market-analysts), in various Television Channels. Next time in your definition of operator, include this bunch of people too. 

MARKET MANTRA

Land Bank of Anant Raj Industries Ltd

A2Z Infra Engineering Limited hit the upper circuits at Rs.20.90 in the BSE. The scrip if you remember was recommended as a speculative buy at around Rs.16.40, couple of weeks back. The scrip touched all its short term targets. 

ARSS Infrastructure Projects Ltd today touched Rs.53.25 in the NSE and is now trading at around Rs.50.55. The scrip was repeatedly recommended in this blog, as a must buy. I hope most of you have made money today. Book some profits in the counter. 

A buy call was initiated today in Anant Raj Ltd (formerly Anand Raj Industries Ltd) at Rs.47.55, for  a short term target of Rs.56. I have placed a brief report on the company at: http://sumanspeaksplus.blogspot.com.
Today HDIL touched its short term target of Rs.72, as it hit Rs.72.45, intra-day. However, those who are holding can continue to do the same for the next target of Rs.84. Keep a SL of Rs.71.40, for any short term trade. 
My recommended Pipavav Defence Ltd today again touched Rs.47.20 and is now trading at around Rs.45.50. The traders are suggested to book short term profit in the counter and shift to any real estate / construction stock. 
PVP Ventures Ltd today touched Rs.8.90, intra-day and is now trading at Rs.8.35, above its strong support of Rs.8.20. This is another scrip which is also expected to give decent returns over a period. 
The Nifty is  now down by 6.35 points while the mid-cap index is up by 34.80 points--this points towards towards the general of the market. Therefore, while the Nifty is expected to trade range-bound most of the actions would be seen in the small and mid-cap space. The traders and investors are suggested to buy good stocks in the small and mid-cap space and keep holding with strict stop losses. 

WINNING STROKES: THINK DIFFERENT

Today's recommendation, Suzlon Energy Ltd moved to Rs.15.45, in the NSE before closing at Rs.14.80. The stock has moved up after a long consolidation phase. There was good delivery based buying in the BSE and even better in the NSE. The scrip today moved up with huge volume. By the way, one request to the NSE officials, please make your website, user friendly like that of BSE. Also, it would be better if  you do not put so many images on the front page. 

Resurgere Mines and Minerals Ltd today hit 20% upper circuits at Rs.177 before closing at Rs.1.66 up 12.16%. The circuit limit of the scrip has been revised to 20% from 5%, few months back. 

Pipavav Defence Ltd today hit the UC in the BSE at Rs.46, before closing at Rs.45. The scrip if you remember was recommended at Rs.35--35.50, last week. It might go for some consolidation phase before showing, next round of upmove. 
The Indian markets went in for huge correction today, after FIIs turned net sellers on last Friday; but overlooked the fact that DIIs were net buyers on that day. We cannot expect the FIIs to be net buyers everyday. Isn't it? Today, the  Nifty closed below the psychological barrier of 8500-8460 levels. However, did you see the FII buy figures? Yes just have a look at it in my  next post. Those who sold the shares today out of panic will definitely lament tomorrow. 

MARKET MANTRA

Photo: www.archiexpo.com

Resurgere Mines and Minerals Ltd is up around 18% as the stock touched Rs.1.77, intra-day. I had mentioned a couple of days back, that the current NDA Government is making SINCERE EFFORTS efforts to ease the environmental  rules (guidelines), which has been providing serious impediments to the growth of the mining sector in India; though many environmentalists are worried that the new approach will go beyond cutting red tape and will do away with effective regulation altogether. However, it is definitely a posiitve news for the mining and infrastructure sectors, which off-late has been plauged by various government policies. 

Today's Call:  Buy Suzlon Energy Ltd at Rs.14.10, for a target of Rs.15.70 in the short term. Recently, there were media reports that, Senvion SE, a wholly-owned subsidiary of Suzlon, the world's fifth largest manufacturer of wind turbines, has erected the prototype of the Senvion 6.2M152 with the largest rotor diameter in te product range on Dec. 3, 2014. Meanwhile, Suzlon Group Chairman and Managing Director Tulsi Tanti seems to be “100 per cent sure” that Suzlon Energy will make a net profit in 2015-16. “We have a clear plan of reducing our debt and interest costs,” Tanti said in a chat with BusinessLine recently, without getting into details. For the six months ended September 30, Suzlon reported consolidated net loss of Rs.1,385 crore on revenues of Rs.10,051 crore, after incurring interest costs of Rs.1,065 crore. Suzlon will launch a new wind turbine, the 2.1 MW machine named ‘S 111’, in April 2015, said Tanti. Combined with the company’s newly-launched 120 metre hybrid tower, the machine is projected to give 20 per cent higher yield. He said the new machine will make a critical one-percentage-point difference to the investor’s return (IRR), to 15 per cent. The machine would also open up hitherto unviable sites for putting up wind farms. He cited Suzlon’s upcoming wind farm in Rajasthan as an example. All these augurs well for the company.

Pipavav Defence and Offshore Ltd, today nearly touched, the short term target of Rs.47, as it made an intra-day high of Rs.46.05. You can book some profits in the counter as the stock seems to be finding difficulty to cross Rs.46-47, ranges. 
ARSS Infrastructure Projects Ltd today touched Rs.42.75, in the BSE is presently trading at around Rs.42. This is a turnaround story and the investors are suggested to buy the scrip on all declines. 
My recommended J P Power Ltd (Rs.13) and Allied Digital Services Ltd (Rs.22) are doing well in the morning trade--both the scrips are expected to give good returns to the patient investors. 
Meanwhile, the Nifty had witnessed a monthly gain of 266 points in November, alone. Now, with this the total gain from its intermediate low of 7724 comes to around 893 points. Therefore, there cannot be a 2nd opinion that the Indian markets are on a SECULAR UPTREND. However, the the resistance of 8600-8630 is putting pressure on the Bulls on the upper side. Today, since morning, the Nifty is carefully, holding 8500 levels. With the absence of any major negative news the Nifty is likely to trade range-bound, throughout the day. The traders are suggested to buy small and mid-cap counters in bulk, as the Nifty meanders around Rs.8500-8630 levels. 

Market Mantra

My recommended Pipavav Defence Ltd hit the 2nd consecutive upper circuits today at Rs.41.95 in the NSE and Rs.41.85, in the BSE. The scrip was repeatedly recommended in this blog. I again reiterate, Pipavav Defence and Offshore Engineering Ltd is India's biggest private sector naval shipbuilder. Hence, you should be holding the shares of the company in your portfolio---this is a must.

ARSS Infrastructure Projects Ltd today moved to Rs.43.70 (BSE) and Rs.43.80, in the BSE. The scrip is moving up on the twin optimism: (i) Turnaround of the company accompanied by the government's initiatives in the infrastructure sector (ii) Improved health of Indian Railways, would help the company. ARSS Infrastructure Projects Ltd came up with an IPO in March, 2010 at a price band of Rs.450. ARSS Infrastructure Projects Ltd has earlier informed the BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on December 17, 2014. The scrip should be crossing Rs.50, within this month. Hence, the investors are strongly suggested to buy the stock and keep holding. CMP: Rs.41.70. 
Today NCC Ltd touched Rs.83, but what is the News? I do not think there is anything, worth talking about, except that a big Bull is holding the shares of the company. Some days back a well know Bombay based equity analyst wrote in a Financial Weekly: 

"Despite dismal results for H1, analysts and market men continue to recommend to buy NCC Ltd only because big bull is also one of the shareholders of the company". 

On a consolidated basis, NCC has posted a loss of Rs.3.16 crore for the second quarter this year against a loss of Rs.10.19 crore in the same period last year. Revenues during the period stood at Rs. 2,571.57 crore (Rs.1,706.79 crore). During the first half, NCC posted a loss of Rs.23.68 crore with revenues of Rs.4,400.11 crore against a loss of Rs.4.39 crore and revenues of Rs.3,345.67 crore. 
These days, there is no need of any fundamentals for a scrip to move up. What one has to do is to bring some marketmen in front of Television cameras and make them SHOUT: BUY!! BUY!! BUY or SELL!! SELL!! SELL!! The scrip will move up or go down--main aim is to create positive or negative sentiment around a counter. You look at the track record of those marksmen whom you see everyday on your Television Channel/s and see how they change their views so often. And then compare, their views with me. You will then understand what is the real GAME (going on)!! What the 24x7 Business Channels have done is to turn everyone into a day trader; which is most  unfortunate. These days it is becoming very hard to find long term investors, which we used to see in 1990 or even during 2002-07 period. Now, it seems most wants to buy building materials and see their houses being erected on the same day--there is no time.....Huh!! Also, on what capacity, the stocks are being recommended randomly on Television Channels in the name of "Game" or "Competition"--this is the biggest manipulation done, and should be stopped immediately.
Jaiprakash Power Ventures Ltd (Rs.12.95), should be accumulated on all declines, inspite of what all those TV-analysts say (positive or negative). The scrip has a great future and is from the reputed J P Group. 
As of  now the mid-cap index is down 82.15 points as against 29.45 points of Nifty. But the irony is that many mid-caps are undervalued as compared to the large caps. Hence, theoretically speaking the money should have moved out from a section of the large caps and  have entered in this space--but we are witnessing just the opposite. Why? One reason is: Stock Market Education among the Indians (traders/investors), is very low/poor. Hence, most traders will probably do what those sitting in front of the cameras would advises them....this is the real irony. The real fat is that: Most Indians, want to make money, but do not want do research.

Suresh Prabhu in saddle, Railways plans new public-private partnership projects

Photo: Yourarticlelibrary.com

Wednesday, 3 December 2014: In coming days, Railways plan to bring in other type of projects like development of stations to the public-private partnership route.  

In a meeting this week, the Railways officials are also likely to unveil handful of projects identified for development through the PPP route. Foreign financial institutions like HSBC and JP Morgan have also been extended invitations for the meeting.

Railways is meeting private sector players which are currently engaged in various public-private partnership (PPP) projects with it on Friday to discuss the new model concession agreement being developed and also various projects that could be offered as PPP opportunities.

The Railways have also invited consultants like PricewaterhouseCoopers and Deloitte and also financial institutions and is likely to discuss the newly refined and developed model concession agreement, which would be the basis for the renewal of PPP in Railways, sources told dna.

However, wagon and coach makers and other suppliers to Railways have not been called.

"The meeting is limited to the PPP partners and investors and we are not part of it," Titagarh Wagons chairman J P Chowdhury said when asked if other partners of the Railways, the wagon makers, have been invited to the meeting.

Pipavav Railway Corp, Hassan-Mangalore Rail Development Co, Kutch Railway Co are some of the PPP companies that are developing projects which mostly involve gauge conversion.

In coming days, Railways plan to bring in other type of projects like development of stations to the PPP route.

In the meeting the Railways officials are also likely to unveil handful of projects identified for development through the PPP route, sources said.

Foreign financial institutions like HSBC and JP Morgan have also been extended invitations, sources said, indicating the Railways's seriousness in taking their views on the development of PPPs in the sector which was severely criticised recently by the Comptroller and Auditor General of India (CAG).

CAG said in its report tabled in Parliament in July that Railways lacked a coherent policy on PPP and a specific model concession agreement while pointing out loopholes in contract agreements.

While Railways at that time argued that its model concession pact is dynamic and specific to requirement of the department, it set on the path of reworking its existing model which is now being finalised.

The Railways, which only a year back didn't have money even to buy essentials like wagons, recently got a big boost with the appointment of Suresh Prabhu as the railway minister who has identified restarting work on stalled projects as one of his key priorities.

A roadmap and a guiding policy for the next 10 years is also on the works and is set to be unveiled within the next two months.

Meanwhile, a report on restructuring the Railway Board being prepared by a team headed by economist Bibek Debroy is also being finalised.

Courtesy: DNA India

WINNING STROKES: THINK DIFFERENT

The bulls took a breather today amid the news of the disclosure of names of the alleged BLACK MONEY HOLDERS in the Honourable Supreme Court of India. Also, the uncertainity regarding the formation of the goverenment in Maharashtra, took its toll on the markets. However, as long as the level of 8000-7980 is held the bulls can still hope for a continuation of this rally. The focus is now expected to shift towards the small and mid cap counters as the broader market is likely to trade in a range till the F&O expiry on this Thursday. The traders are therefore, suggested to buy the scrips which has a story to tell and hold for few days to get some good returns,  as NOVEMBER-EFFECT draws closer. 

Glodyne Technoserve Ltd today hit another buyer freeze in the opening trade at Rs.4.11. The company came out with a slightly better Q1FY15 results, speaking sequentially. 

Today, the shares of Suzlon Energy Ltd were recommended, as BUY to the PAID GROUP MEMBERS, around the price range of Rs.11.99-12.10. After recommendation, the scrip touched a high of Rs.12.20 intra-day. The stock seems to have given both price and volume break out today. The next target according to my analysis should be Rs.16.50-17. Meanwhile, there were media report, this month that Suzlon Energy is planning to set up 2,000MW wind energy projects in Madhya Pradesh. The company will also establish supporting manufacturing facilities in the state for this purpose. Very recently, Suzlon Energy Ltd also announced that it has bagged contracts for wind power projects having total capacity of 150 MW, estimated to be worth about Rs.1,200 crore. The orders have been received from various entities including Malpani Group, Rajasthan Gum Group, KRBL, Sterling Agro Group and an assortment of Small and Medium Enterprises. There are repeat orders from existing customers including Malpani Group, Rajasthan Gum Group, KRBL Group, and Sterling Agro Group. Suzlon Group is the world's fifth largest wind turbine maker and has installed generation capacity of over 24,700 MW. Suzlon Energy Ltd is planing to list its German subsidiary Senvion on the London Stock Exchange through an initial public offer which is likely to garner close to Rs.7,000 crore. At the end of March this year, Suzlon Group's order book was worth about $7.2 billion (~Rs.43, 000 crore). The company is currently working on its business revival strategy and plans to raise about Rs.1,000 crore from sale of non-core assets in the current financial year (2014-15). The company is coming up with September, quarter results on 31st October, 2014.

Resurgere Mines and Minerals Ltd today hit another buyer freeze at Rs.1,72, before closing at Rs.1.71 in the BSE. The company is hoping to get approval of one of its mines in Maharashtra, after the new government has taken over. 

Pipavav Defence Ltd today hit the upper circuits at Rs.43.05 on the news that the government of India on Saturday cleared defence projects worth Rs.80,000 crore. Pipavav Defence and Offshore Engineering Company, a beneficiary from defence project announcements has put in bids of Rs.30,000 crore for new projects, as they claim to be well poised to secure and execute large government contracts, says company Chairman Nikhil Gandhi in an interview with a private news channel. 
Premier Explosives Ltd recommended at Rs.30.90 on Thursday, April 10, 2008, made a lifetime high of Rs.246.35 today. Congratulations to all bought the share and is still holding. 

Market Mantra

Pipavav Defence and Offshore Eng Ltd is doing well today, with the stock almost hitting the Upper Circuits Intra-day. The scrip  touched a high of Rs.45.30 intra-day and is now trading at Rs.44.5. The momentum is very strong in the counter and I would not be surprised if the scrip hits another Buyer Freeze today also.
Gitanjali Gems Ltd have started to move up. Today it touched an intra-day high of Rs.62.95 and is now trading at Rs.62.30. We could see a rally in Gold based stocks before Deepawali. 
Etegra Ltd which was recommended to some of  my close friends, last week at around Rs.3.35, today high another buyer freeze at Rs.3.48, in the BSE. 

Today's call (to the Premium Groups): Buy J P Power Ventures Ltd at Rs.12.50, for a target of Rs.17. The scrip seems to have formed a base around Rs.12.10--12.40. Meanwhile, the Finance ministry officials will meet on Friday to explore ways to get stalled power projects back on track and to help prevent them from becoming non-performing assets for banks. Recently, there were also media report that, in its third attempt to strike a deal for its power assets, Jaypee Group inked a binding pact with Sajjan Jindal-led JSW Energy for selling three projects, including two hydel plants. The announcement came after Jaiprakash Power’s proposed sale of three hydro projects to Reliance Power had earlier fallen through. “JSW Energy Ltd (JSW) and Jaiprakash Power Ventures Ltd (JPVL), announced the signing of binding memorandum of understanding (MoU), for the 100 per cent acquisition by JSW of three operational plants of JPVL,” the companies had said in similarly-worded statements. The plants are — 300-MW Baspa-II Hydro Electric Plant, 1,091 MW Karcham Wangtoo Hydro Electric Plant and 500 MW Bina Thermal Power Plant, it added. 
The Indian Stock Markets are witnessing high volatility, near the crucial support of 7800--a rise above 8000 may trigger a fresh rally. Nifty is now trading at 7889, which is just above the immediate support of 7850. Share indices are trading in a cautious note ahead of Maharashtra elections, due tomorrow, i.e. 15th October, 2014. However, many analysts are not expecting too much downside from here, as data on India's consumer price index-based inflation hit a record low in September, 2014. Also, the much expected Deepawali Rally is on the cards. 

WINNING STROKES: THINK DIFFERENT

Pipavav Defence and Offshore Eng Ltd, a Nikhil Gandhi company hit the 3rd consecutive buyer freeze today. The stock was recommended around Rs.38.75, a few weeks back. The scrip after giving a break out is moving up continuously; today it closed above its 21D SMA and EMA. 

Gitanjali Gems Ltd was given a buy call today at Rs.61.90, after my sources confirmed of its bright future outlook. The company has taken a number of measures to revamp its operations. Besides, falling international gold prices and the subsequent correction in India, could give a surge in demand for the yellow metal. Some analysts expect, that gold prices this Diwali could hit 3 year low. In May 2014, RBI eased import restrictions on Gold. The central bank permitted private agencies and banks to provide gold loans to the sector. But, the government has not lowered the import duty which is at 10%. According to The Indian Express, October 12, 2014:

Much to the delight of jewellers, Indian consumers are making a scramble for gold in the build-up to Diwali on October 23 after a lacklustre festive season last year.

Sales of gold jewellery and coins in October so far have accelerated in the range of 15-25 per cent more than a year before, although it is still early to firm up a precise forecast of demand this Diwali and Dhanteras, considered auspicious for the precious metal purchases. “After months of slowdown, things are finally beginning to look up,” a spokesperson for Tanishq, the country’s largest jewellery chain, said. “All the purchases that people had postponed are finally being made,” he said, adding that lower gold rates in recent days had helped accelerate demand.

B F Utilities Ltd, which was recommended around Rs.129-130, today closed at  Rs.647.15, up 18.31%. Intra-day, it hit the Upper Circuits at Rs.656.40. The stock earlier hit an all time high of Rs.817.95, in between.

IVRCL Ltd as was expected did  not break Rs.16, on the downside--some inputs were sent to the PAID GROUPS yesterday. Now, with September CPI inflation declining to 6.46% and vegetable inflation falling to 8.59%, the scrips in the infrastructure/road construction sector, could stage a comeback.