WINNING STROKES

The stock market registered modest gains as bargain hunting emerged on the bourses after seven straight sessions of losses. The barometer index, the S&P BSE Sensex, rose 330.45 points or 0.97% at 34,413.16. The Nifty 50 index advanced 100.15 points or 0.96% at 10,576.85. Pharma stocks advanced. Cement major ACC surged after reporting strong Q4 results. Bhel advanced after strong Q3 earnings.

Key indices opened higher and extended gains in mid-morning trade. Later, indices traded within a narrow range with strong gains till afternoon trade. Indices trimmed some gains in mid-afternoon trade and closed with modest gains with a bit of volatility seen in the last hour of trading.

Stocks advanced as bargain hunting emerged after seven straight sessions of sell-off in the domestic equities in the wake of a combination of domestic and global factors. Lesser hawkish tone of the Reserve Bank of India (RBI) in its monetary policy meeting concluded yesterday, 7 February 2018, also supported the gains on the bourses. The central bank had kept key policy rates on hold, reiterating its intention to keep an eye on the inflation figures going forward and to support growth.

Earlier, the key indices had declined for seven sessions in a row after the Government announced re-introduction of long term capital gains (LTCG) tax on equities exceeding Rs 1 lakh at 10% in Budget 2018, surging interest rates on sovereign debt in US, and amid rising global crude oil and commodity prices.

Overseas, European stocks edged lower as investors waded through the latest batch of corporate earnings, ahead of a central bank decision in the UK. Asian stocks ended on a mixed note. China's trade surplus shrank in January on huge imports surge, data released today, 8 February 2018 showed. Trade surplus for January, in Yuan terms, came in at CNY 135.80 billion.

US stocks declined yesterday, 7 February 2018, after trading in a wide range again, as interest rates climbed back toward multi-year highs.

Among secondary indices, the S&P BSE Mid-Cap index rose 1.82%. The S&P BSE Small-Cap index advanced 2.25%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was quite strong. There were more than three gainers for every loser on BSE. 2,172 shares advanced and 640 shares declined. A total of 118 shares were unchanged.

The total turnover on BSE amounted to Rs 5547.07 crore, compared with the turnover of Rs 4395.53 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Healthcare index (up 2.91%), the S&P BSE Realty index (up 2.51%), the S&P BSE Basic Materials index (up 2.48%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.63%), the S&P BSE Industrials index (up 1.45%), the S&P BSE Telecom index (up 1.45%), the S&P BSE Capital Goods index (up 1.44%), the S&P BSE Teck index (up 1.41%), the S&P BSE IT index (up 1.40%), the S&P BSE Metal index (up 1.35%), the S&P BSE Consumer Durables index (up 1.32%), the S&P BSE Finance index (up 1.28%), the S&P BSE Auto index (up 1.17%) and the S&P BSE Bankex (up 1.12%), outperformed the Sensex. The S&P BSE Energy index (up 0.45%), the S&P BSE FMCG index (up 0.36%), the S&P BSE Power index (up 0.31%), the S&P BSE Utilities index (up 0.30%) and the S&P BSE Oil & Gas index (down 0.25%), underperformed the Sensex.

Banks stocks advanced. Among public sector banks, IDBI Bank (up 6.31%), Indian Bank (up 3.18%), State Bank of India (up 2.97%), Canara Bank (up 2.96%), Allahabad Bank (up 2.42%), Andhra Bank (up 2.27%), Syndicate Bank (up 2.19%), Corporation Bank (up 2.12%), Bank of Baroda (up 1.56%), Punjab National Bank (up 1.50%), Union Bank of India (up 1.50%), Bank of India (up 1.21%), United Bank of India (up 0.98%), Bank of Maharashtra (up 0.79%) and Dena Bank (up 0.66%), edged higher. UCO Bank (down 0.17%), Central Bank of India (down 0.52%), Vijaya Bank (down 1.15%) and Punjab & Sind Bank (down 2.01%), edged lower.

Among private banks, City Union Bank (up 3.95%), Axis Bank (up 1.75%), Federal Bank (up 1.39%), Kotak Mahindra Bank (up 1.33%), RBL Bank (up 1.08%), ICICI Bank (up 0.69%), IndusInd Bank (up 0.68%), Yes Bank (up 0.56%) and HDFC Bank (up 0.46%), edged higher.

Pharma stocks advanced. Cipla (up 7.83%), Sun Pharmaceutical Industries (up 6.32%), Dr Reddy's Laboratories (up 3.18%), Wockhardt (up 2.93%), Strides Shasun (up 2.80%), IPCA Laboratories (up 2.59%), Piramal Enterprises (up 2.49%), Divi's Laboratories (up 2.19%), Cadila Healthcare (up 2.13%), Glenmark Pharmaceuticals (up 1.47%), Alkem Laboratories (up 1.41%) and GlaxoSmithKline Pharmaceuticals (up 0.49%), edged higher.

On the macro front, the Reserve Bank of India (RBI), in a notification dated 7 February 2018, announced relief measures for micro, small and medium enterprises (MSMEs) registered under Goods and Services Tax (GST). Presently, banks and non-banking finance companies (NBFCs) in India generally classify a loan account as non-performing asset (NPA) based on 90 day and 120 day delinquency norms, respectively. The formalisation of business through registration under GST had adversely impacted the cash flows of the smaller entities during the transition phase with consequent difficulties in meeting their repayment obligations to banks and NBFCs.

As a measure of support to these entities in their transition to a formalised business environment, it has been decided that the exposure of banks and NBFCs to a borrower classified as MSME under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, shall continue to be classified as a standard asset in the books of banks and NBFCs, subject to a set of conditions, the central bank said.

#As expected the Indian markets bounced back, after a long hiatus. Nifty did got support around 10400 througout the day. The next targets for the Nifty spot comes around 10630 and 107286 on the upside. However, I feel the action will now be seen in the badly beaten small and mid cap sectors. Remain invested and average wherever necessary; but don't average every scrip.

#NDTV Ltd today hit the BUYER FREEZE in the mid afternoon trade at Rs.45. Yesterday, the traders and investors were suggested a buy on the counter on view of increasing chances of UPA returning  to power in 2019. However, the stock has some resistance around Rs.45-46.5 ranges which it needs to cross with good volume for the next target of Rs.51.

#The stock of 3i Infotech Ltd (Rs.6.35) today moved up with good volume, with rising RSI, indicating further bullishness in the counter. The investors should do well to accumulate the scrip in every decline and buy with long term targets of Rs.50 and Rs.100. You need to just buy and hold, like your fixed deposits. 

#The scrip of HDIL today moved up from the oversold positions with reasonable volume to close just below the resistance zone of Rs.52.60-52.70. The next targets for the scrip are Rs.59 and Rs.65, which it will easily reach during the next few trading sessions. HDIL is not a company but a Real Estate Empire, with a land bank of around 20 crore sq.ft in Mumbai Metropolitan Region, where the land cost is a major part of the total cost of construction. Even if we take a modest value of Rs.1500 per sq.ft of land in MMR, the land bank valuation comes to around Rs.30,000 crore, which will always give some cushion against debt. 

#The share of Urja Global Ltd today hit another lower circuits to close at Rs.7.45 in the BSE. The stock has been hitting the Lower Circuits, since my sell call at around Rs.11.30. I feel any price of this Re.1 face value scrip, above Rs.2-3 is unjustifiable. 

#The stock of GVK Power & Infrastructure Ltd today hit the buyer freeze at Rs.196.50 (on Rs.10 face value), probably due to "Hero Worship" formula, when the company has over the years amassed ~Rs.25,000 crore debt, raising its debt-to-market cap to as high as 13. I am not understanding the reasons to buy this Re.1 face value scrip at around Rs.19.6, when there are 100s of stocks, which  are looking screaming buys. 

In its annual report, the company said it had delayed payment of loan and interest and certain loan accounts have been classified non-performing assets by banks. 

Anyway good luck to those who buys JUNKS at such a high price because a fund manager has bought the same. Will the fund manager tell you when he exits the scrip, distributing the shares of the company on to your hands? 

Did Rakesh Jhunjhunwala ever whisper into your ears......before EXITING the companies like Orchid Chemicals and Pharmaceutical Ltd (now Orchid Pharma Ltd; CMP: Rs.17.85) or Hindustan Oil Exploration Ltd (Rs.121.30)? 

Moreover, the Financial/Business TV  Channels will never inform you why Rakesh Jhunjhunwala's Viceroy Hotels Ltd (Rs.16.15) failed to perform in the bourses, but will generally shout, about his investments in Prakash Industries Ltd (Rs.205.60) or Titan Company Ltd (Rs.800.65)....
This is how the whole system of stock market works, in collusion with media......Huh!! As a parting note, I would  like to point out that: I also recommended Prakash Industries Ltd at around Rs.41-42, but the media will always attribute the gains in the scrip price to RJ only......LOL!!

#My recommended Energy Development Ltd, an Amar Singh-Jaya Prada venture, at around Rs,17-18, today hit the upper circuits at around Rs.24.55.  The immediate targets for the scrip are Rs.27-29, which I feel will be achieved very shortly. 

#I have few scrips which could give good returns over a period. These are the scrips which are infront of your eyes but you might not find the reasons to invest in them, till they start hitting the upper circuits, due to hidden valuations. If anyone is willing to invest around Rs.3-5 lakhs in those scrips please do let me know. You will get the 1st mover advantage and naturally the gains will be higher. This is different from the Premium Service, which I run..

Also, small investors/traders can join my information service at a discounted rate or my associated brokerage house: BMA Wealth Creators Ltd to stay ahead of others. Exiting a stock is always very difficult than buying a scrip and hence expert opinion matters.

~~with inputs from Capital Market - Live News..

Winning Strokes

The key benchmark indices registered small gains in a range bound session of trade. The barometer index, the S&P BSE Sensex, rose 90.40 points or 0.26% to settle at 34,443.19. The Nifty 50 index rose 13.40 points or 0.13% to settle at 10,637. The Sensex and the Nifty, both, hit record high in intraday as well as on closing basis.

Continuous foreign fund inflows and bets by investors amid optimism over Q3 FY 2018 earnings and upcoming budget helped the key indices to hit record highs. Positive global cues also lifted investors' spirit. However, the movement for the key indices was confined to a narrow range around the flat line throughout the session.

Overseas, European stocks edged higher as investors monitored a fresh batch of economic data. Official data released today, 9 January 2018 showed that industrial production in Germany, Europe's biggest economy, picked up strongly in November after two months of declines. The Economy Ministry said that production was up 3.4% compared with the previous month.

Most Asian stocks closed higher as investors in the region digested earnings guidance from tech heavyweight Samsung Electronics and kept an eye on inter-Korea talks. North and South Korea have begun high-level talks, the first between the countries in two years. North Korea will reportedly send athletes and cheerleaders to next month's Winter Olympics in South Korea, after the two countries held their first official talks for more than two years. The talks represent a cautious diplomatic breakthrough after months of rising tensions over Pyongyang's nuclear weapons programme. US President Donald Trump called the talks a big start, adding that it would be a great thing for all of humanity if they resulted in a positive outcome.

In the US, the S&P 500 and Nasdaq composite finished Monday's session at all-time highs as investors remained optimistic on the US economy.

Back home, the Sensex rose 90.40 points or 0.26% to settle at 34,443.19, its record closing high. The index rose 135.24 points, or 0.39% at the day's high of 34,488.03, a record high. The index fell 9.38 points, or 0.03% at the day's low of 34,343.41.

The Nifty 50 index rose 13.40 points or 0.13% to settle at 10,637, its record closing high. The index rose 35.55 points, or 0.33% at the day's high of 10,659.15, a record high. The index fell 20 points, or 0.19% at the day's low of 10,603.60.

Among secondary indices, the S&P BSE Mid-Cap index fell 0.40%. The S&P BSE Small-Cap index advanced 0.08%. Both these indices underperformed the Sensex.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,623 shares fell and 1,369 shares rose. A total of 102 shares were unchanged.

The total turnover on BSE amounted to Rs 5442.86 crore, lower than turnover of Rs 6007.76 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Telecom index (down 1.35%), the S&P BSE Utilities index (down 0.67%), the S&P BSE Power index (down 0.64%), the S&P BSE Healthcare index (down 0.63%), the S&P BSE Auto index (down 0.39%), the S&P BSE Capital Goods index (down 0.36%), the S&P BSE Industrials index (down 0.15%), the S&P BSE Teck index (down 0.13%), the S&P BSE Finance index (down 0.08%), the S&P BSE Basic Materials index (down 0.07%), the S&P BSE Bankex (up 0.04%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.07%) and the S&P BSE Oil & Gas index (up 0.2%), underperformed the Sensex. The S&P BSE Metal index was unchanged. The S&P BSE IT index (up 0.32%), the S&P BSE FMCG index (up 0.45%), the S&P BSE Consumer Durables index (up 0.81%), the S&P BSE Energy index (up 1.08%) and the S&P BSE Realty index (up 2.88%), outperformed the Sensex.

Most banks declined. Among private sector banks, RBL Bank (down 1.14%), City Union Bank (down 0.77%), ICICI Bank (down 0.64%), Federal Bank (down 0.13%), Axis Bank (down 0.04%) and Kotak Mahindra Bank (down 0.01%), edged lower. HDFC Bank (up 0.21%), IndusInd Bank (up 0.22%) and Yes Bank (up 2.31%), edged higher.

Among public sector banks, Bank of Maharashtra (down 1.69%), UCO Bank (down 1.38%), United Bank of India (down 1.09%), Andhra Bank (down 1.02%), Punjab & Sind Bank (down 1%), Corporation Bank (down 0.85%), Union Bank of India (down 0.62%), Punjab National Bank (down 0.46%), Central Bank of India (down 0.4%), Indian Bank (down 0.39%), Dena Bank (down 0.37%), IDBI Bank (down 0.32%), Canara Bank (down 0.3%) and Bank of India (down 0.15%), edged lower. Vijaya Bank (up 0.15%), Allahabad Bank (up 0.41%), Syndicate Bank (up 0.63%) and Bank of Baroda (up 1.64%), edged higher.

State Bank of India (SBI) fell 0.46% at Rs 304.25. The bank said that its executive committee of the central board is scheduled to meet on 17 January 2018, to consider approval for issuance of long term bonds of Rs 5000 crore for financing of infrastructure and affordable housing in domestic and overseas market. The announcement was made during market hours today, 9 January 2018.

Metal and mining stocks dropped. Jindal Steel & Power (down 3.14%), Hindustan Copper (down 2.72%), Hindalco Industries (down 1.52%), National Aluminium Company (down 1.51%), JSW Steel (down 0.98%), Steel Authority of India (down 0.86%), Vedanta (down 0.65%) and Hindustan Zinc (down 0.28%), edged lower. Tata Steel (up 0.44%) and Bhushan Steel (up 4.49%), edged higher.

NMDC fell 4.48% at Rs 154.60. The promoter Government of India (GoI) after market hours yesterday, 8 January 2018, announced a stake sale in the company through an offer for sale (OFS) at a floor price of Rs 153.50 per share. GoI is selling up to 4.74 crore (or 1.5%) equity shares today, 9 January 2018 for non-retail investors only and retail investors and for non-retail investors who choose to carry forward their un-allotted bids tomorrow, 10 January 2018, with an option to additionally sell up to 4.74 crore (or 1.5%) equity shares of the company.

Separately, NMDC reported iron ore production of 24.23 million tonnes (MT) in December 2017. The company reported iron ore sales to 25.64 MT in December 2017. The announcement was made during market hours today, 9 January 2018.

Coal India advanced 5.63% at Rs 304.05 after the company's board at its meeting held on 8 January 2018, approved revision of non-coking coal prices with effect from 9 January 2018. This will be applicable to all subsidiaries of Coal India including NEC for regulated and non-regulated sectors. Due to this revision, Coal India will earn incremental revenue of about Rs 1956 crore for the balance period of FY 2018. The projected annual incremental revenue would be Rs 6241 crore. The announcement was made after market hours yesterday, 8 January 2018.

Index heavyweight and cigarette major ITC advanced 1.94% at Rs 270.50. The company said that the Supreme Court by an order dated 8 January 2018 has stayed operation of the judgement and order dated 15 December 2017 passed by the Karnataka High Court. The announcement was made during market hours today, 9 January 2018.

It may be recalled that the Karnataka High Court by its judgement and order dated 15 December 2017, held a notification issued by the Ministry of Health and Family Welfare, Government of India, as unconstitutional. The said notification, inter alia, prescribed textual and pictorial warnings to occupy 85% of the front and back panels of tobacco product packages. The High Court also held that the earlier rules prescribing 40% warning on the front panel of tobacco product packages shall revive. Certain individuals and NGOs have filed special leave petitions against this judgment, along with a prayer for stay of the judgment.

#Today also Pincon Spirit Ltd hit the buyer freeze at Rs.47.60, up 9.93%. If you remember the scrip was recommended around Rs.37-38 a couple of days. This is the 3rd consequtive rally after it was recommended both to the Premium Members and also in this free blog.

#MBL Infrastructure Ltd today closed at Rs.28.60 in the NSE over uncertainty surrounding the crucial meeting on 11 January, 2018.  What to do with the scrip? It is pertinent to mention here is that making money on consistent basis from the share market is not a child's play. It  is because stock movements many times are irrational and have no connection with the fundamentals, for example a Re.1 face value share named GVK Power and Infrastructure Ltd with huge debts is trading at Rs.22.50 or Rs.250 on Rs.10 face value. What is so special about this power and infrastructure company that it has to trade at such astronomical levels only because a fund manager has purchased the same??!!

#Today's call Surana Solar Ltd hit the buyer freeze at Rs.19.85. However, this is a high risk call and non-risk taking investors should avoid.

#Suzlon Energy Ltd today touched Rs.16.50, before closing at Rs.16.40. The investors should do well to book some profits in the counter. If you can recollect, the stock was recommended around Rs.13.60.

#Today, TV Vision Ltd hit another buyer freeze at Rs.22.85 in the NSE.. The scrip was recommended around Rs.21 on 8th January, '18.

#My recommended Jai Prakash Associates Ltd recommended around various prices starting from around Rs.7-8 today made a high of Rs.24.20. The investor can hold with a SL of Rs.21.

#Today, Sri Adhikari Brothers Television Network Ltd was recommended to the Premium Members at around Rs.28-29.65 and also have taken position in some accounts which I manage. However, though the stock hit the upper circuit, it has a stiff resistance at around Rs.31-32, which it needs to overcome for further upmove.

#My Recommended Unitech Ltd is consolidating around Rs.10, after it made an high of Rs.12.25 some days back. The investors are suggested to book complete profits and buy only if the scrip gives a closing above Rs.12.30. However, long term investors can hold the scrip with a SL at Rs.8.7.

#From 16th January, '18, the charges for my Premium Service (for sharing information) will increase to Rs.18,000 per year. And from that date, I will give only calls (Information) like I used to give earlier. The support during the market hours will be stopped due to some unscrupulous elements, who have started to misuse this service and who ping me 100 times in a day for trivial reasons. Moreover, they bring a bouquet of scrips recommended by various agencies including brokerage houses, during market hours, take my inputs and then either sell it to their clients or pass it to their friends. 
It it to be understood that this Premium Service is only for one person and not for 100s of your friends who wants enjoy the fruits without paying anything. Now if you want support during the market hours, then the charges would be Rs.2 (two) lakh per year -- this  is just a deterrent for these unholy elements, who want mass support paying only for one person or only a tiny fraction. 

Also, those who wants their accounts to be managed by me have to compulsorily open account with BMA Wealth Creators Ltd so that I know who is purchasing what or else they take the name of the scrips from me during the market hours and then say, they have not invested in the same or give some excuses, so that they do not have PAY me the sharing amount. This is a very rampant disease prevalent from among the Army Colonels to NRIs to IT Professionals to Local Businessmen -- dishonest lot. You will not believe how high profile men and women are dishonest and I have a very bad experience of people taking my service and not paying me. 

However, there are people like Prakash Lotankar (Mumbai) or Arunabha Mukherjee (Kolkata) or Rupa Bashrur (Bangalore) who are very decent, cultured and different from the rest. These kinds of people have always appreciated and paid for my efforts.

~~with inputs from Capital Market - Live News

Market Pulse

Key benchmark indices witnessed a downward trend in early trade. The Sensex is now trading at 33,379.02 down 76.77 points or 0.23%. The Nifty is now trading at 10,291.20 down 31.05 points or 0.30%.

The S&P BSE Mid-Cap index fell 0.1%. The S&P BSE Small-Cap index declined 0.04%. Both the indices outperformed the Sensex.

Overseas, Asian stocks edged higher following a strong lead from Wall Street overnight. US equities closed higher yesterday, 11 December 2017, reversing earlier weakness following a terror incident near New York City's Times Square. The Dow Jones Industrial Average and the S&P 500 notched record closing highs.

The US Federal Reserve's Federal Open Market Committee (FOMC) starts its two-day meeting on interest rates later in global day today, 12 December 2017. The US Federal Reserve will announce its interest rate decision tomorrow, 13 December 2017. The Federal Reserve left the target range for its federal funds rate unchanged at 1% to 1.25% during its November 2017 meeting as widely expected.

Closer home, the breadth, indicating the overall health of the market, was positive. On the BSE, 634 shares rose and 588 shares declined. A total of 47 shares were unchanged.

Asian Paints fell 1.91% at Rs 1,106.50. The company said that it purchased the balance 49% stake in the kitchen solution provider company, Sleek International, from Ahuja Family and the shareholders agreement dated 8 August 2013 with the Ahuja Family has been terminated. Sleek has now become a wholly-owned subsidiary of the company. The announcement was made after market hours yesterday, 11 December 2017.

On 8 August 2013, Asian Paints had announced that it acquired 51% stake in Sleek from the Ahuja family by entering into a shareholders agreement with the Ahuja family and Sleek.

On macro front, the government will announce industrial production data for October today, 12 December 2017. India's industrial production increased by 3.8% year-on-year in September, following an upwardly revised 4.5% gain in the previous month in August.

The government will announce today, 12 December 2017, inflation data based on consumer price index (CPI) for November. Consumer prices increased 3.58% year-on-year in October, above 3.28% in September.

Today's Calls:

#Intraday Sell Indian Bank Ltd at around Rs.385.5, SL:N Rs.389, T: Rs.378.

#Intraday Sell Pidilite Industries Ltd at around Rs.893, SL: Rs.901, T: Rs.878-872. Book Partial Profit around Rs.885.
1st target of Rs.878, almost achieved--made a low of Rs.878.60, till now. Book Full Profit at around Rs.874.80.

#Suzlon Energy Ltd (Rs.13.85) is consolidating around the price range of Rs.13.85-13.80. Suzlon Energy had in June, '17 approved allotment of 79.70 lakh shares on conversion of 2,046 foreign currency convertible bonds, maturing in July 2019, at ₹15.46 each. The conversion rate for the equity share allotment is ₹60.225 per dollar. Following the allotment, the paid-up capital of the company has increased to ₹1,038.41 crore.
Meanwhile, the auction in the Wind and Solar Energy space has commenced. Moreover, due to less capacity addition in FY18, there are chances of energy prices firming-up in the coming days. Moreover, India has an ambitious target of 175,000 megawatt (MW) of renewable power by 2022. India, at present, has an installed capacity of 60,157 MW renewable power and a rapid development is expected in the next five years.
Besides, aiming to address the quality issues in India’s rapidly growing renewable energy sector, the union ministry of new and renewable energy (MNRE) has come out with a new policy for “testing, standardisation and certification” of products in the renewable energy sector. The policy also aims to develop standards for all renewable energy equipment in line with the international practices.The concerns of the government are not ill-founded as voices have been raised about poor quality Chinese solar modules— rejected by developers—being sold in the Indian market at a discount. This is likely to help the reputed players in this space, like Suzlon Energy Ltd. I am looking for targets of Rs.19-22, by March, '18.
Most of its non-auction based order book has power purchasing agreements (PPAs) and is executing them. The rest of the orders are in the process of obtaining PPAs. So, the whole 1,562-megawatt (MW) order book (231MW solar and 1,331MW wind) is intact and executable.
In terms of commissioning volumes, the market is expected to see slower growth in the current fiscal, compared with the year gone by. But Suzlon expects to continue to gain market share—it aims to increase it from 32% in 2016-17 to 40% in the current fiscal—helping it outdo industry performance. In another development, Brent crude oil prices have climbed past $65 a barrel on Forties pipeline shutdown. This has pushed the shares of my recommended Aban Offshore Ltd to around Rs.207 today. This development is likely to give a positive movement to the shares of Renewable Energy companies like Suzlon Energy Ltd.
Anyway, the FCCBs has been priced at around Rs.15.46 and hence in any case the share should move above Rs.15. Or in the current scenario, the share price should invariably trade above Rs.15, the 1st resistance coming at Rs.15.20. Yesterday, the percentage of  Deliverable Quantity to Traded Quantity
in Suzlon Energy Ltd was whooping 38.51% -- this shows that large scale accumulation is going in the scrip by the informed investors.

#Jai Balaji Industries Ltd today hit the Upper Circuits at around Rs.22.05 and is now trading at around Rs.21. The scrip which was recommended around Rs.12-14, gave good returns to the investors in the short term. However, I would suggest non-risk taking investors to book full profits in Jai Balaji Industries Ltd at around Rs.21-22 and shift to Uttam Galva Steels Ltd at around Rs.23.50-24, which has a similar story, but has not moved up. Having said that, if you are thinking of taking too much risk in Jai Balaji Industries Ltd, then you can hold the scrip with a SL of Rs.18.6 -- there is a very strong resistance at Rs.24.
Meanwhile, the Billionaire Lakshmi Mittal’s ArcelorMittal recently said that its 29% equity stake in Uttam Galva Steels Ltd will not impede them from participating in bidding for stressed steel assets in India. 

#Today Shilpi Cable Technologies Ltd tanked to around Rs.13, but according to my close sources the company is functioning normally. In case if you are too apprehensive after buying the share, then please do put at SL at Rs.12.50. I on the contrary feel that the downside is limited, and it has huge upside, especially when the Sensex is above 33k.

#Today Unitech Ltd touched Rs.8.30, due to sustained buying, however, I feel for the time being you should book complete profit and let the stock to stabilize before it again jumps above Rs.8.30. I think you have read the media reports that Unitech Ltd's management has moved the honouable Supreme Court after NCLT recently invoked the provisions of the Companies Act, allowed the central government to take over the Unitech Limited and appoint its nominee directors in the Board of the firm.

#P C Jewellers Ltd recommended at around Rs.396, last Thursday, today touched Rs.450.90. I feel most of you by now have booked profit in the counter. If you remember, I have recommended this stock several times in this blog. If I can recollect correctly, I started recommending this stock from around Rs.82-84, in this blog.

#Those who are still holding the shares of SKM Egg Products Ltd (Rs.90), should keep a SL at Rs.86. The poultry is expected to do well in the coming days, with the rise in population. But I am not too bullish in this scrip, as of now.

#The shares of Prakash Industries Ltd, an integrated steel player with mines, today touched Rs.154.80. I  had recommended this stock several times in this blog starting from Rs.41-42; during the last few years. The steel sector is showing a turnaround and most of players is expected to do well in the coming few months.

#Energy Development Ltd (Rs.28) is on fire today. You can hold the stock with a strict stop loss of Rs.26. This is Amar Singh and Jaya Prada company. In stock market you need to buy and hold a scrip with appropriate stop losses in place, to make money on a consistent basis.

~~with inputs from Capital Market - Live News

Market Pulse

Shilpi Cable Technologies Ltd recommend on last Friday at around Rs.17, hit another buyer freeze at Rs.18.70. Where is the stock heading? Join the Premium Service and get 24x7 assistance over Whatsapp, E-mail and even through Mobile phones. I will recommend another such stock either before Deepawali or next week. Those who will opt to trade through my associated brokerage house BMA Wealth Creators Ltd with a minimum portfolio size of Rs.1 lakh, will get the name of that scrip, which is also likely to cover the cost of your Premium Subscription (if you are not interested to trade through my recommended brokerage house), if you invest Rs.1 lakh in that stock. 

Energy Development Company Ltd today touched  an intra-day high of Rs.23.50 and intra-day low of Rs.21. It is now trading at around Rs.22.55. As long as the scrip does not break Rs.21.60 on closing basis, there is no cause of worry for the bulls. 

Gitanjali Gems Ltd today touched Rs.70.90 intra-day and is now trading at around Rs.69.85. The traders are suggested to exit the scrip, as the jewelry demand has fallen by 30% according to the latest media report. You can shift to HDIL at the CMP of Rs.55.65. 

Those who are holding the stock of Reliance Power Ltd (Rs.40.55) from Rs.39-40 onwards are suggested to sell the scrip on rallies and enter or Idea Cellular at Rs.81 for targets of Rs.87-91.

A strong sell call of booking profit, was given on the scam tainted Prakash Industries Ltd at Rs.138, on last Friday on the rationale that it will find a very strong resistance at around Rs.142-143. The stock today made an intra-day high of Rs.141.50, intra-day low of Rs.132.30 and is now trading at Rs.135.50. Hope you could make money in this free call of mine.

Reliance Naval Engineering Ltd (Rs.51.20 today crashed to Rs.50.45, intra-day, after a sell call was initiated on the counter last Friday at around Rs.53. The company did not come up with good set of numbers for the September, 2017 quarters. You should exit the scrip.

Brokerage Call: T+1/BTST: Buy Cipla Ltd at around Rs.605-606, SL: Rs.596, T: Rs.622...

On the macro front, India's merchandise exports rose by 25.67% to $28.61 billion in September 2017 over September 2016, helping the trade deficit narrow to $8.98 billion, the data released by the government after market hours on Friday, 13 October 2017 showed.

The International Monetary Fund (IMF) Chief Christine Lagarde reportedly said that the Indian economy is on a solid growth track in the medium and long term due to the structural reforms undertaken by the government, and the current slowdown due to implementation of the goods & services tax (GST) and demonetisation is short term. The IMF has last week lowered India's growth forecast for 2017-18 to 6.7% from its earlier estimate of 7.2%, citing lingering impact of demonetisation and transition cost to GST.

Stock markets remain closed on Thursday, 19 October 2017 on account of Diwali Laxmi Pujan and again on Friday, 20 October 2017 on account of Diwali Balipratipada. However, markets will remain open for Muhurat trading on Thursday, 19 October 2017. The Muhurat trading session on account of Diwali Laxmi Pujan will be held between 18:30 IST and 19:30 IST on Thursday, 19 October 2017. I wish you and  your family/friends, a very Happy Deepawali.

WINNING STROKES: THINK DIFFERENT

Yesterday, was another good day for Premium Members, as Shilpi Cable Technologies Ltd was recommended a buy before the market opening. The stock came down to Rs.16.55 giving ample opportunities to the Paid Members to enter. The scrip at the end of the day again hit the Upper Circuits at Rs.17.85, much to the joy of the Paid Members. What is the Buzz in the scrip? Join the Premium Group or trade through www.bmawc.com with a minimum portfolio size of Rs.1 (one) lakh and get 24x7 assistance, through Whatsapp, E-mail and even through Cell, in emergency situations. 

After my sell call on Unitech Ltd at around Rs.7.40, the stock could never cross Rs.8. Yesterday the scrip closed at Rs.6.30 in the NSE. Similar is the case with Future Enterprises Ltd, after my sell call around Rs.54-55 - it was never been able to close above this range. The stock of Future Enterprises Ltd closed at Rs.50.35 in the NSE yesterday. Gone are the days, when every Tom, Dick, Harry could make money from the stock, at ease. The market at present has become so competitive, that even the experts sometimes make huge losses. If a new comer or a non-professional wants to make money from the share market on a consistent basis, then the guidance of a "Market Guru" or a Veteran in the trade is very  essential. See, even a "Road Sweeper" or a Scavenger Sing Songs and Kishore Kumar Ganguly also sang or Dr.Arko Pravo Mukherjee also does playback -- there is a difference isn't it? Fluke does not work, all the time!!

Energy Development Company Ltd, an Amar Singh and Jaya Prada, enterprise closed at Rs.22.25 (near the day's low) yesterday, after hitting an intra-day high of Rs.23.85. Where is the stock heading?

Reliance Naval and Engineering Ltd, though approved the Rights issue, but the company did not come up with good set of numbers for the September, 2017 quarter, as the sales fell while the interest cost shot up. You exit the scrip at around Rs.53 and enter HDIL at the CMP of Rs.55.65. HDIL is likely to give a close above Rs.57.50 soon. HDIL has one of the highest land banks among the Mumbai based real estate companies. 

The Scam tainted and BJP linked (If I remember correctly: Arun Jaitley was once its lawyer) Prakash Industries Ltd yesterday touched Rs.140.40, before closing at Rs.138.60. The stock is likely to face stiff resistance around Rs.142-143 -- so book complete profits. If you remember, I had recommended this stock several times from Rs.42 onwards. 

The traders can accumulate Gitanjali Gems Ltd (Rs.69.85) during intra-day dips for targets of Rs.75-77. It is a no-brainer that most of the Jewelry stocks rises before the Deepawali. Keep a SL  of Rs.66.

The Nifty  spot closed at 10,167.45 and was trading at a P/E of 26.41 on 13 October, 2017, much higher than the new normal of 19. Therefore, I expect correction at any time or the moment the stock of Reliance Industries Ltd (Rs.877.35) stops jacking up the indices.  This unusual phenomenon happened during 2005-2008 period also -- so nothing new. The Reliance Group is known for such outlandish movements, since the time of Dhirubhai Ambai, who was more of a stock market punter than a hardcore businessman. When RIL starts to give such unusual movement, it generally indicates the end of the current trend. So, be careful and don't take too deep long positions in the future market. Stay Light -- Stay Tight with your SLs.

Winning Strokes: Think Different

Future Enterprises Ltd (Rs.46.15) recommended around Rs.18.20, made a fresh 52-week high yesterday, as it touched my target of Rs.47, intra-day. What to do now? Join my Premium Service or trade through my recommended brokerage house, to stay ahead  of others.

After superb performance of my recommended Tata Steel from  Rs.217 to above Rs.635, I feel  soon other steel stocks will also join the bandwagon. Considering such case, I have already recommended a buy on Jai Balaji Industries Ltd at around Rs.12-12.50.

Unitech Ltd (Rs.765) seems to have never ending problems and also the management is not bothered about the plight of the shareholders. In such cases, I would suggest you to exit the stock and enter HDIL at Rs.62.

Prakash Industries Ltd (Rs.122), was recommended by me several times at around Rs.43-44, after I somehow came to know of its BJP linkage. However, considering the current scenario it would be better if you exit the scrip on rallies.

Mandhana Industries Ltd (Rs.6.12) hit another buyer freeze yesterday. Those who have still not entered the counter or want to average, can do the same.

Jaiprakash Power Ventures win Amelia North coal mine

[Editor: Apart from this news, you must have seen the recent media reports that Jaiprakash Power Ventures Ltd’s second unit of 660 MW of (2 x 660 MW = 1320 MW) Jaypee Nigrie Super Themal Power Project (JNSTPP), has started commercial operation with effect from February 21, 2015. Thus, 1320 MW JNSTPP of the company stands fully operational. Jaiprakash Power Ventures is part of India’s leading Infrastructure conglomerate - Jaypee Group. Currently the company operates the largest hydroelectric power plant in the private sector in India. Its power projects which are in different stages of implementation include Hydro, Thermal and Transmission. Therefore, it is one best times to invest in the shares of Jaiprakash Power Ventures Ltd (Rs.11.50), with all the positive developments in its stride. Buy at around Rs.11.50, for a short term target of around Rs.14-15]

NEW DELHI, February 17, 2015, : Jaiprakash Power Ventures today bagged the Amelia (North) mine in Madhya Pradesh quoting Rs 712 per tonne, the highest among 11 firms including Adani Power, BALCO and Essar Power.

Bids are underway on the fourth day of auction for another two coal blocks - Ardhagram in West Bengal and Chotia in Chhattisgarh to be given to firms in non power sector.

"Jaiprakash Power the highest bidder at (Rs) 712 (a tonne) for Amelia North," Coal Secretary Anil Swarup tweeted.

The ten companies in the race for Amelia (North) mine apart from Jaiprakash Power Ventrues Ltd were - Adani Power, Bharat Aluminium Co Ltd (BALCO), Essar Power M P Ltd, GMR Chhattisgarh Energy Ltd, GVK Power Goindwal Sahib Ltd, Jindal Power Ltd, JSW Energy Ltd, KSK Mahanadi Power Company, RattanIndia Power Ltd and Reliance Geothermal Power Pvt Ltd.

The mine has extractable reserves of 70.28 million tonne (MT).

The other two mines - Ardhagram and Chotia for which bidding is on, have extractable reserves of 19.29 MT and 13.57 MT respectively.

Earlier tweeting on auctions, Swarup said "coal block auction gets underway on the fourth day adding that poor states will reap benefits of coal block auctions."

The five companies vying for Ardhagram coal mine are Easternrange Coal Mining Pvt Ltd, Monnet Ispat and Energy Ltd, OCL Iron & Steel Ltd, SS Natural Resources Pvt Ltd and Visa Steel Ltd.

The technically qualified bidders for Chotia mines are Balco, Godawari Power & Ispat Ltd, Hindalco Industries, Prakash Industries, Rungta Mines and Ultratech Cement Ltd.

Yesterday, Jai Prakash Associates, Durgapur Projects and B S Ispat -- had bagged one mine each, even as the government said that it expects more aggressive bidding for blocks as the mines were already producing.

After the Supreme Court cancelled allocation of 204 mines in September, the government decided to auction the blocks. It has put 19 blocks on sale in the first tranche. The last day for the auction of first lot of mine is February 22.

Courtesy: The Economic Times

Modi, favoring growth in India, sweeps away environmental rules

Photo: Regent Plast Pvt. Ltd

VAPI, Dec 5, 2014: Factory owners in this city on the western coast of India have been fuming, railing, and arguing for years against a single troublesome number: the pollution index used by the ministry of environment and forests, which identified Vapi as an area so badly contaminated that any further industrial growth there was banned. 

They finally got some good news in early June, about two weeks after Narendra Modi was sworn in as Prime Minister. The new officials at the ministry told them that the pollution index would be revised — and in the meantime, Vapi's chemical and pesticide factories were again free to expand, and to snap at China's share of the global chemical export market. 

Rightly so, said Harshad Patel, standing outside the plant where he works. The air had an acrid-sweet smell, and reddish-brown effluent was gushing from a treatment plant down the road at a rate of 55 million gallons a day into the Daman Ganga River, but Patel looked untroubled. "Clean India is fine — we also like clean India," he said. "But give us jobs." 

Indian industries have often complained that convoluted environmental regulations are choking off economic growth. As a candidate, Modi promised to open the floodgates, and he has been true to his word. The new government is moving with remarkable speed to clear away regulatory burdens for industry, the armed forces, mining and power projects. 

More permanent changes may be coming. In a report made public last week, a high-level committee assigned to rewrite India's environmental laws assailed the existing regulatory system, saying it has "served only the purpose of a venal administration" seeking to extract bribes. 

To speed up project approvals, the committee recommended scrapping a layer of government inspections; instead, it said, India should rely on business owners to voluntarily disclose the pollution that their projects will generate and then monitor their own compliance, an approach the committee described as "the concept of utmost good faith." 

Environmentalists are worried that the new approach will go beyond cutting red tape and will do away with effective regulation altogether. 

"If you're building something like a brewery or a dam, faith is the last thing you want to think about," said Leo Saldanha, coordinator of the Bangalore-based Environment Support Group. "Do you have 'utmost good faith' in enforcing income tax, or corporate tax law? No. This is a territory on which the government wants to be weak — because they want growth." 

Modi's new government did inherit cumbersome regulations. The environmental activist Sunita Narain, in a recent article, described a system in which "the same project had to be cleared by five to seven agencies," not one of which monitored compliance. Industrialists complained that corrupt inspectors made the rounds with their hands out, and that corrupt bureaucrats sat on files that were lined up for approval, waiting for bribes. 

Modi's new environment minister, Prakash Javadekar, made it clear that speedy clearances would be the order of the day. The newly appointed National Board for Wildlife, which must approve projects in and around protected areas, plowed through 140 pending projects during a two-day gathering in mid-August. One member said they worked at a rate of 15 to 30 minutes per file. 

More significant, activists say, were the raft of regulatory changes and dilutions that followed. Smaller coal mines were granted one-time permission to expand without holding a public hearing; projects in forests will no longer have to seek the approval of tribal village councils; smaller mining projects of less than 100 hectares (247 acres) will no longer undergo ministry inspection. Several categories of projects will be allowed to proceed as soon as they receive clearances from state bodies. 

"We have decided to decentralize decision-making," Mr. Javadekar said. "Ninety percent of files won't come to me anymore." 

He said the new government was not phasing out important environmental protections, just "those which, in the name of caring for nature, were stopping progress." 

Environmental activists are alarmed at the plan to devolve power to state regulators, in part because state chief ministers have powerful incentives to support industry. "It would be a rubber stamp, because the chief minister would just call the pollution control guy and say, 'clear it,' " said Jairam Ramesh, who served as environment minister under the previous national government. "In the state, the chief minister is the king, he's the sultan." 

Few places embody the tensions between regulators and industry as starkly as Vapi, where around 800 factories — mostly small ones — produce dyes, pharmaceuticals, pesticides and other chemicals and employ about 80,000 people. For decades the factories simply dumped caustic byproducts and waste into open ditches; when pressure mounted in the 1990s to clean up the mess, they banded together to build an effluent treatment plant. 

But while the effluent plant has improved matters somewhat, Vapi is still polluted. Downstream from the plant, the riverbanks are abandoned and villagers said their old fishing grounds were useless. Acrid fumes settle thickly in the area early in the morning, making it difficult to breathe. Ask business leaders here about pollution, though, and they bristle, arguing that the government inspectors' sampling is faulty. "People talk as if you go to Vapi and you can't breathe, your lungs are damaged," said Rajju Shroff, chairman of one of India's largest pesticide manufacturers. "It's all lies. People are nice and healthy in Vapi. There is no problem at all." 

Regulators say it is nearly impossible to police the country's many small manufacturers. In frustration, Ramesh imposed a total ban in 2010 on industrial growth in 43 areas that the Central Pollution Control Board said were the most polluted in India. Vapi was at the top of the list. 

"That was the only way I felt I would get these guys to act," he said. "Enforcement was weak, the penalties were very weak, and there was no visible deterrent penalty for noncompliance." 

The moratorium did impose pain on businesses in Vapi, forcing abrupt cancellation of planned expansions. But it did not lead to any significant reduction in pollution levels, at least according to the control board, which renewed the ban last year. 

The general election in the spring, which replaced a Congress-led coalition government with Modi and his Bharatiya Janata Party, seems to have changed all that. 

During a recent visit, the Vapi Industries Association was an upbeat place. A copy of the magazine Corporate India was on display, with the headline "The Light at the End of the Tunnel." 

Shroff said he was sure that business owners would invest in the equipment necessary to monitor their own pollution levels, as envisaged in the government's new "utmost good faith" policy. Or at least, the ones who could afford it would. 

"The problem is, 90 percent are good, and 10 percent are difficult to convince," he said. "It is human nature to cheat, to do something to save the headache."

Courtesy: The Times of India

Buy Hindalco Industries Ltd: Sudarshan Sukhani

Now another chartist: Sudarshan Sukhani has also given a buy on Hindalco Industries Ltd after Prakash Gaba, according to www.moneycontrol.com.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Hindalco Industries  inspite of the bad news was moving in a trading range and it is actually suggesting that it is willing to go higher, cross that boundary and actually begin an uptrend. I don’t know how that will happen if the Nifty decides to go down. Hindalco independently looks quite attractive as a buy." 

HINDALCO'S operations around the world:

• Novelis is headquartered in Atlanta, Georgia and operates 25 manufacturing facilities in nine countries on four continents, with nearly 11,000 employees. Novelis is the world’s largest rolled aluminum producer in terms of volume shipped, and the largest purchaser of aluminum as well. 
• Aditya Birla Minerals is based in Perth, West Australia, and conducts its activities at the Birla Nifty Copper Operation in the Great Sandy Desert, WA and the Mt Gordon Copper Operation located in the Mt Isa Block in Queensland. 
• Hindalco-Almex operates a first-of-its-kind facility in India, which is exclusively devoted to high-performance aluminium alloys. HAAL is located at Shendra, Aurangabad in western India, around 350 km from Mumbai.

At 10:47 hrs Hindalco Industries was quoting at Rs 156.80, up Rs 1.95, or 1.26 percent. It has touched an intraday high of Rs 157.60 and an intraday low of Rs 154.60.

Updates on some of my recommendations

1. Granules India Ltd, was recommended around Rs.110-112.50.

The scrip touched an all time high around Rs.940.55 on 22/09/2014 (on my birthday). 

2. Multi Commodity Exchange of India Ltd (MCX Ltd) was recommended around Rs.255-270. The scrip made a high of high of Rs.895, on 21/07/2014.

3. B F Utilities Ltd was recommended around Rs.129-130. The scrip made a high of Rs.817.95 on 22/07/2014.

4. Mannapuram Finance Ltd was recommended around Rs.15.50--17.70. The scrip made a high of Rs.31.60  on 19/09/2014.

5. Opto Circuits Ltd was recommended around Rs.25.50-26. The scrip made a high of Rs.44.50 on 22/05/2014.

6. HCC Ltd was recommended around Rs.12.70-12.80. The scrip made a  high of Rs.49 on  01/07/2014.

7. P C Jeweler Ltd was recommended below Rs.88. The scrip made a high of Rs.278 on 23/09/2014.

8. Sarda Energy and Minerals Ltd was recommended around Rs.107.60. The scrip made a high of Rs.402.60 on 21/08/2014.

9. A2Z Maintenance and Engineering Services Ltd was recommended around Rs.11.45. The scrip made a high of Rs.36.40 on 25/07/2014.

10. Prakash Industries Ltd was recommended around Rs.49-50. The scrip made a high of Rs.123 on 21/07/2014.

These are some of scrips which gave good returns to the investors over a period, apart from others like IVRCL Ltd, Entegra Ltd, SBTL, Gitanjali Gems Ltd, IRB Infrastructure Ltd, Ahmednagar Forgings Ltd, etc. 

Today, while Pipavav Defence Ltd (Rs.39.15) and Resurgere Mines and Minerals Ltd (Rs.1.65) hit the buyer freezes; Gitanjali Gems Ltd (Rs.63.15) also closed above some crucial levels. 

Pipavav Defence and Offshore Engineering Company last year announced a new order for offshore vessels from a European client. The order was worth Rs.595 crore with an option to supply two more specialised vessels valued at Rs.1200 crore. The global market for specialised offshore vessels stands at US$10 billion. The company, with its well diversified order book among the defence, commercial and offshore segments, intend to focus on the defence and offshore vessel segment. The defence segment holds around 50% of the order book followed by the commercial segment and offshore segment. New orders in the offshore segment coupled with repairs and maintenance orders augur well for the company as it reduces exposure to the commercial segment. Pipavav Defence and Offshore Engineering Company spanning over 861 acres of land with two dry docking facilities of 662 m x 65 m (Dry Dock-1) and 750 m x 60 m (Dry Dock-2 under construction) is one of the largest “modular” shipbuilding facilities in India. The shipyard is capable of accommodating 400,000 dwt capacity ships along with construction and repair of a wide range of vessels starting from coastal and naval vessels together with repair and fabrication of offshore platforms and rigs. It also has a dedicated offshore yard with 175 m x 16.89 m quay consisting of both launching and loading platform together with installation of bollard and mooring rings. 

Election results: BJP declares 'new era' for India as Congress concedes defeat

[Editor: Buy PVP Ventures Ltd at Rs.7.60-7.80. With NDA returning to power and TDP in alliance with the BJP, it is now more or less confirmed that Potluri Vara Prasad (PVP), would be given a Rajya Sabha ticket and even could be made a minister for industries. Besides, the company's fundamentals are improving, with its net debt coming down. So, buy the scrip before it shoots away]

NEW DELHI: The BJP declared "the start of a new era" in the world's biggest democracy on Friday as the ruling Congress conceded defeat in elections that exposed anger about sickly economic growth and rampant corruption. 

Preliminary results and media projections at the climax of the marathon six-week election showed the Bharatiya Janata Party (BJP) and its hardline leader Narendra Modi on track for the first parliamentary majority by a single party in 30 years. 

Modi, the 63-year-old son of a low-caste tea seller tainted by anti-Muslim violence in his home state of Gujarat in 2002, wrote on Twitter that "India has won. Good days are coming." 

The stunning results exceeded all forecasts. Firecrackers exploded at BJP offices around the country and sweets were handed out in celebrations that began only a few hours after the first figures filtered out. 

"This is the beginning of change, a people's revolution and the start of a new era," senior BJP leader Prakash Javadekar told AFP at party headquarters in New Delhi. 

Media projections showed the BJP winning more than the 272 seats required for a majority on its own in the 543-seat parliament, with victories by its allies taking it easily in excess of 300. 

The Congress party, the national secular force that has run India for all but 13 years since independence, was set to crash to its worst ever result after a decade in power. 

"We accept defeat. We are ready to sit in the opposition," senior Congress leader and spokesman Rajeev Shukla told reporters at party headquarters in New Delhi as preliminary results showed it winning only 49 seats. 

"Modi promised the moon and stars to the people. People bought that dream," he added. 

Stock markets, which have risen 5.0% in the past week, surged again. The benchmark sensex index showed a gain of 4% on Friday at a record high. 

Investors and the wider public have rediscovered heady — many say unrealistic — optimism about the world's second-most populous nation after years of frustration about low economic growth, rising food prices and corruption. 

The disastrous showing for Congress is another blow to the scion of the Gandhi dynasty, 43-year-old Rahul, whose first performance as chief campaigner will likely lead to acrimonious fallout. 

The country's most illustrious political family has provided three prime ministers but preliminary results showed Rahul with only a wafer-thin lead in his constituency of Amethi. 

A group of Congress supporters shouted slogans in support of Rahul's more popular sister Priyanka outside party headquarters on Friday. 

"The politics of inheritance, the politics of dynasty, the politics of entitlement is being punished," BJP spokesman Ravi Shankar Prasad told the CNN-IBN news channel. 

Modi has reinvented himself from a controversial regional leader accused of turning a blind eye to religious riots in 2002 to an aspiring prime minister intent on helping India fulfil its potential. 

After a presidential-style campaign built around him and his record during 13 years running Gujarat, expectations are sky-high of what Modi will deliver in a chaotic and still poor country that is home to a sixth of humanity. 

Modi's promises to revive the flagging economy have won him corporate cheerleaders, while his rags-to-riches story and reputation as a clean and efficient administrator satisfy many Indians' desire for strong leadership. 

He was always assured the votes of his core Hindu nationalist supporters, but his election pitch has drawn the urban middle classes as well as the poor, whose loyalty has traditionally been to Congress and its welfare schemes. The BJP's previous best showing was in elections in 1998 and 1999 when it won 182 seats and ran the country until a shock defeat to Congress in 2004. 

While 81-year-old outgoing Prime Minister Manmohan Singh was hailed by US President Barack Obama as a "wise and decent man", Modi would be an awkward prospect for Washington and other Western powers. 

Elected three times as chief minister in his home state, Narendra Modi was boycotted by the US and European powers for a decade over the 2002 riots in Gujarat that left around 1,000 people, mostly Muslims, dead. He denies that he turned a blind eye to the bloodshed and his focus on the campaign trail has been jobs. 

But the BJP manifesto includes a pledge to build a temple to honour the Hindu god Ram at the site of a former mosque in northern India, a religious flashpoint that sparked deadly rioting in 1992. 

"He has to succeed on the economy and that's the thing on which he will be judged," said Christophe Jaffrelot, an academic on India from Sciences Po university in Paris and King's College London. 

Courtesy: The Times of India

Market Mantra

Marg Ltd hit another buyer freeze in the opening trade. The stock is locked at the upper freeze at Rs.8.29. Congratulations to all those who bought the scrip on my recommendation. 

Today. Prakash Industries Ltd hit the upper freeze at Rs.75.90 in the NSE, but came down after profit booking was suggested in the counter. The stock moved up on the optimism that coming back of NDA to power is positive for the company and also due to the fact that the ace investor Rakesh Jhunjhunwala entered the scrip last week. However, at the current fundamentals the scrip is over-valued and those who are holding are suggested to book profit and shift to A2Z Maintenance and Engineering Ltd at Rs.10.45-10.50. 
Glodyne Technoservices Ltd hit another buyer freeze at Rs.5.92. Last week the Paid Members were asked to accumulate the counter at Rs.4.92. The scrip is expected to hit some more buyer freezes going forward. 

Please Click on the Chart to Expand

Today' call: Buy A2Z Maintenance & Engineering Services Ltd ( BSE Code: 533292) at Rs.10.45--10.50, for a target of Rs.13.50. There is no need for putting any Stop Loss in the counter. A2Z Maintenance & Engineering Services is one of the leading engineering & infrastructure company, where the well known investor, Rakesh Radheshyam Jhunjhunwala holds 10.01% of the shares.  A2Z Maintenance & Engineering Services said at the end of last month that the Master Restructuring Agreement (MRA) was executed on Thursday, 27 March 2014 as per Corporate Debt Restructuring (CDR) Guidelines. It may be recalled that the company had on 30 December 2013 said its board of directors accepted letter of approval (LOA) dated 28 December 2013, issued by CDR Empowered Group (CDR EG) approving the CDR proposal submitted by the company. The CDR EG approved the CDR proposal at its meeting held on 24 December 2013, the company said at that time. Chartically speaking the scrip is above its 200 DSMA and 200 DEMA. The company has equity capital of Rs 74.18 crore. Face value per share is Rs 10.The crossover has already taken place and it is only time that the scrip starts hitting the upper circuits.
Today my recommended Ahmednagar Forgings Ltd (promoter Amtek Auto Ltd) touched Rs.135.35 intra-day. The scrip would soon cross Rs.140 but book profits on the way. 
My strongly recommended IVRCL Ltd at Rs.12.70, today touched Rs.14.98 and is now trading at around Rs.14.40. The scrip is heading towards Rs.21-22 in the coing day---use all the dips to buy the scrip. 

WINNING STROKES: THINK DIFFERENT

Please Click on the Photo to Expand

Glodyne Tech Ltd which was asked to be accumulated last week to the Paid Members, around Rs.4.92, due to some favourable developments today hit the upper circuits at Rs.5.64. The scrip has fallen more than it should and upward journey will continue in the coming days. 
Ahmednagar Forgings Ltd today touched Rs.128.45 before closing at Rs.125.85. Now, the scrip has a book value of Rs.248.05 and EPS of Rs.40.33. Moreover, if we carefully look at the shareholding pattern of the company we would find that Amtek Auto Ltd is holding 64.77% of the shares of the company. Also, the P/E of the scrip is 3.14, while the Industry P/E is 18.25. A reasonable P/E re-rating can take the scrip to around Rs.370-380, in the coming days. Ahmednagar Forgings Ltd manufactures forged automotive components, cold forged parts, and high tensile fasteners primarily in India. It is the second largest manufacturer of forged automotive components in India. Last year, Ahmednagar Forgings Ltd decided to acquire the entire business of First Forge Limited through a Business Transfer Agreement for cash consideration.  The Amtek group has acquired a substantial stake in GWK group of UK, Smith Jones of USA and Zelter of Germany.
My Recommended Marg Ltd (BSE Code: 530543) today hit another upper circuits in both the BSE and in the NSE. In the BSE the scrip closed at Rs.7.90, up 4.91%. According to its FY13, Annual Report, Marg Ltd had an order book at around Rs.3,800 Crores. Even its website says: The Group is executing 21 major projects worth more than Rs 3800 crores in varied domains through its EPC division. Major developments include a 1.85 million sq.ft. integrated development – 'MARG Junction Mall' and a unique 23 million sq. ft. integrated industrial and services township, 'MARG Swarnabhoomi'.
There is no stopping of IVRCL Ltd, the scrip touched Rs.14.54, before closing at Rs.14.37. The company has entered into the CDR cell and has a massive order book of Rs.20, 000 crore plus. The scrip, can even touch Rs.31-32, in the next few months time frame, if the new government continues to priority to the infrastructure sector. The company is likely to get benefitted from the recent government proposal of giving some relief to the infrastructure firms. Recently IVRCL  Ltd was recommended by Akshata Deshmukh of Networth Capital for a target of Rs 14.90.
Today, my long term recommendation Prakash Industries Ltd hit the upper circuits and closed at Rs.68.70 in the BSE. A few of my clients whose trading I manage (for whom I trade) are  holding the shares of the company, since a long time. They would surely be benefited from this move. This scrip should further move up as it could be a major beneficiary, if a NDA led government is formed at the center. I cannot disclose further details here, due to some constraints.
Shree Ganesh Jewelry House (I) Ltd moved to Rs.29.80 before cooling down at Rs.29.20 in the BSE. The scrip is likely to touch Rs.50, in the next few weeks, as it CDR scheme gets approval and the government decides to relax import restrictions on gold. The Commerce Ministry had already voiced their concerns over this and now Finance Ministry has also joined the chorus.