A firm opening on the cards

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 40 points at the opening bell.

On the political front, the outcomes of the five state elections will likely set the tone for the general elections next year. Voting in Rajasthan and Telangana will take place today, 7 December 2018 and the counting of votes in all the states will be done on 11 December 2018. Assembly elections in Madhya Pradesh and Mizoram were held on 28 November 2018. The election in Chhattisgarh Assembly was held in two phases on 12 and 20 November 2018.

Overseas, Asian stocks were trading mixed as investors grappled with shifting indications on US-China trade talks and prospects for a pause in Federal Reserve tightening.

US stocks closed mostly lower Thursday after a dramatic session that saw the Dow Jones Industrial Average plunge more than 700 points at one point on fears that the arrest of a Huawei executive would reignite trade worries. However, the market clawed back most of its losses on a report that the Federal Reserve may turn more accommodative.

Market participants are also monitoring a two-day meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, which is slated to wrap up Friday. Crude-oil prices renewed their descent after the Saudi energy minister proposed a smaller-than-expected cut to production, but added that the oil cartel hadn't yet agreed to any production declines.

Back home, key domestic indices slumped Thursday, mirroring weakness in global stocks. Indices settled lower for third day in a row as investors turned cautious in the run-up to the announcement of five state elections' results next week. The Sensex fell 572.28 points or 1.59% to settle at 35,312.13, its lowest closing level since 22 November 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 72.47 crore yesterday, 6 December 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 389.78 crore yesterday, 6 December 2018, as per provisional data.

Among corporate news, HCL Technologies (HCL) said it will acquire select IBM software products for $1.8 billion. The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews. The software products in scope represent a total addressable market of more than $50 billion and include Appscan for secure application development, BigFix for secure device management, Unica (on-premise) for marketing automation, Commerce (on-premise) for omni-channel eCommerce, Portal (on-premise) for digital experience, Notes & Domino for email and low-code rapid application development, and Connections for workstream collaboration. HCL and IBM have an ongoing IP Partnership for five of these products. The announcement was made after market hours yesterday, 6 December 2018.

Wipro's digital business arm, Wipro Digital, and Alfresco, a leading enterprise open source provider of process automation, content management and information governance software, announced an expanded global partnership to create, build and run open source based digital transformation programs for its clients, across the globe. The partnership will bring together Wipro's expertise in digital transformation and Alfresco's Digital Business Platform. As a part of this alliance, the two companies will launch a series of go-to market (GTM) initiatives, that includes a joint Predictive Service Automation solution using Artificial Intelligence, Machine learning and a microservices based framework, that will transform the future of asset maintenance. The announcement was made after market hours yesterday, 6 December 2018.

Coal India announced after market hours yesterday, 6 December 2018, that the President of India, acting through the Ministry of Coal, Government of India, has sold 13.73 crore equity shares, or 2.21% equity, of Coal India to Reliance Nippon Life Asset Management. This is with reference to the setting up of the central public sector enterprise exchange traded fund (CPSE ETF) comprising equity shares of central public sector enterprises (CPSE), which was launched as the CPSE ETF mutual fund scheme (Scheme) in March 2014. Post-acquisition holding of a promoter is 72.92% of equity share capital of the company.

#A buy call was initiated in the scrip of Bartronics Ltd yesterday at around Rs.7.25 for short-term targets of Rs.11/14. This is a high-risk high gain counter and hence don't play without putting a SL at Rs.6. The company's sundry debtors include export receivable aggregating to Rs.733.80 crores as of June 2018. The management in a BSE filing said that though on account of the economic slowdown and consequent recessionary conditions in the global market there have been delays in recovery of such amount however it firmly believes that the said amount is recoverable as the company has a long-standing relationship with that customer. At the year ended 30 June, 2018, 300 (three hundred) kiosks have been constructed and for the balance 1700 Kiosks, allotment of clear sites by MCD is awaited. 

Meanwhile, the company has started negotiations with the holders of company's bonds (FCCBs) and in this regard, it has appointed a consultant to assesses all the options available with the company and finalize the best-suited approach. The management in a BSE filing further said it is in the advanced stages of negotiations for arriving at a consensus with the bonder holders and is confident of resolving this shortly. 

#Omkar Speciality Chemicals Ltd hit another buyer freeze at Rs.16.09 in the BSE The scrip has given more than 30% returns from the recommended price. 

#The Premium Members were yesterday asked to re-enter the scrip of Tata Steel Ltd (Rs.510.20) at around Rs.517.20, when it fell, intraday, on the premise that the company has started to show marketd improvement in its topline after its acquisition of Bhusan Steel. If you remember, I have been recommending Tata Steel from the levels of Rs.217. The stock has given more than 3 times returns during the last 2-3 years. 

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

Market Mantra: Stocks May Open a Tad Lower

Photo: Kalinga TV

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 6 points at the opening bell.

Overseas, most Asian stocks were trading lower, signaling fading investor applause for the US-China trade truce. US stocks rallied yesterday, 3 December 2018 after the US and China declared a truce in their trade war.

Back home, key equity benchmarks extended gains for sixth straight trading session yesterday, 3 December 2018. However, the trading was volatile as gains triggered by strong global cues were almost offset by lower-than-expected domestic GDP data. The Sensex rose 46.70 points or 0.13% to settle at 36,241, its highest closing level since 1 October 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 293.12 crore yesterday, 3 December 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 806.45 crore yesterday, 3 December 2018, as per provisional data.

Among corporate news, Axis Bank will be in focus. With reference to a news item titled "I-T dept probing Axis Bank staff for allegedly facilitating benami deals," the bank clarified after market hours yesterday, 3 December 2018, that the matter reported in certain sections of the media pertains to a complaint received by the bank in March 2018, referring to incidents of an earlier period. 

An internal inquiry in this regard has already been conducted by the bank. In case there are any queries from the income tax authorities in the said matter, the bank, as always, shall fully co-operate with the concerned authorities. The bank has always adhered to the highest standards of regulatory compliance and will continue to work towards maintaining a strict code of conduct in all spheres of business that it undertakes, it said.

The 2nd quarter real GDP growth fell to 7.1% YoY, lower than the primarily due to the weaker-than-expected services sector. Although fiscal spending and investments posted a double-digit growth, weak private consumption and very high net imports dragged GDP growth in Q2FY19.  Implied domestic savings rate also fell to a new low of 25.6% in Q2FY19, while investment rate improved to 30.9% on account of a wider current account deficit (CAD). Growth in investments was driven by the private sector (households & corporate), while government capex declined in the said quarter. 

Recent data showed that strong growth witnessd in H1CY18, was basically due to a favorable base (H1FY18: 6%), which is set to fade off in the 2nd half of the year (H2FY18: 7.4%). Although exports grew by a healthy 13.4% on Yo--Y basis, imports shot up by 25.6% in Q2FY19. As a result, net imports widened, shaving off 2.7pp from GDP growth as compared to the previous quarter. Both, investments and government consumption posted double-digit growths (12.5-13%) in the quarter under scrutiny. 

Although construction growth slowed to 7.8% in the 2nd quater of FY19, from 8.7% in the previous quarter, growth remained in line with the average of 7.5% seen during the last four quarters. Mining GVA declined by 2.4% in Q2FY19 after rising 2.8% on an average during the last four quarters.

The recent encouraging signals coming from the US President Donald Trump and Chinese President Xi Jinping's meeting in Argentina have to some extent succeeded in defusing the impending global trade war. The escalating tensions between the two major trading nation already had a sentimental impact on the financial markets across the world. The news filtering in from that summit that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India. 

Over the past couple of years, the RBI has over-projected headline inflation for six quarters and the actual headline inflation in Q2FY19 was as much as 75 bps lower than its projection. Similarly, as against the market expectation of 4.34 % during the past six months, the actual inflation has averaged 4.11 % 

Interestingly, while headline CPI-inflation has fallen consistently during the past two years, bond yield has risen during the past one year probably due to higher-than-expected actual inflation giving a kick to the expectation of a rise in policy rates. Thereafter, as the market participants dwelled on the details, we after another nine months that the 364-day T-bill (or 1-year G-sec) and not the is the basis for the calculation of the real interest rate. 

Key equity benchmarks extended gains for sixth straight trading session, yesterday. However, the trading was volatile as gains triggered by strong global cues were almost offset by lower-than-expected domestic GDP data. Global shares were upbeat as truce talks between US and Chinese leaders at the G20 summit improved investors' risk appetite.

The Sensex rose 46.70 points or 0.13% to settle at 36,241, its highest closing level since 1 October 2018. The index rose 251.86 points, or 0.70% at the day's high of 36,446.16. The index fell 94.62 points, or 0.26% at the day's low of 36,099.68.

The Nifty 50 index rose 7 points or 0.06% to settle at 10,883.75, its highest closing level since 1 October 2018. The index rose 64.45 points, or 0.59% at the day's high of 10,941.20. The index fell 31.40 points, or 0.29% at the day's low of 10,845.35.

The S&P BSE Mid-Cap index and the S&P BSE Small-Cap index rose by 0.46% each. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,321 shares rose and 1,263 shares fell. A total of 195 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 2.6%), the S&P BSE Power index (up 2.47%) and the S&P BSE Metal index (up 2.14%), outperformed the Sensex. The S&P BSE Healthcare index (down 1.21%), the S&P BSE Energy index (down 0.52%) and the S&P BSE Auto index (down 0.19%), underperformed the Sensex.

#A BUY call was initiated in the shares of Balasore Alloys Ltd near the supports of Rs.27-27.50 for short term targets of Rs.41/62. This is a Pramod Mittal group company. He is the brother of the Kolkata (Calcutta) based Steel baron L N Mittal. When, so much talks are underway, for buying Essar Steel by L N Mittal's Arcelor Mittal, I thought it fit to recommend the scrip of his brother's company. The company has a Captive Chrome Ore Mine in Sukinda Valley in Jaipur District of Orissa which is about 170 kms from  the plant. The mine takes care of the Chrome Ore requirement of the Company. 

The company was allotted Manganese ore mines at Balaghat district of Madhya Pradesh. The produce from mines of Balaghat Sector is coveted for its low Phos and Low Fe content. Commercial operation in the said mines has commenced. 

This is a safe scrip to buy and hold considering its high book value and low risk due to it having mines. It is pertinent to mention here that Ferrochromium is having its maximum share of consumption in the steel industry and due to the ever - increasing demands from the construction and steel sectors, the global ferrochromium market is forecasted to flourish in the near future. The Asia Pacific is having the maximum market share in global ferrochromium market with China and India taking the lead.  Europe is an emerging market in the field of ferrochrome and is anticipated to have a considerable market share in future due to its flourishing automobile sector. In North America and Latin America, the demand for Ferrochrome is slowly picking up. The global ferrochromium market is anticipated to be in deficit to cater the increasing global steel demands, in near future. Ferrochromium is mostly produced in India, China, South Africa and Kazakhstan because of their large chromite resources. 

Balasore Alloys got a bargain in this market when it recently announced acquisition of 70% stake in Zimbabwe Alloys. Zimbabwe has the second largest reserves of ferrochrome in the world. For the ferrochrome industry, Africa is strategic location for two reasons. Firstly, the continent has a huge logistic advantage in terms of being near to western market. Secondly, it is very cheap to produce ferrochrome in Africa, which even China cannot match. 

#Yesterday, the shares of my well researched company Omkar Speciality Ltd and its group company Lasa Supergenerics Ltd hit their respective buyer freezes at Rs.14.10 and Rs.22.45 in the NSE. Both these stocks will give superb returns going forward and hence accumulate in declines (if any). To make money on a consistent basis, there is no need to invest in 100s of scrips. Just choose 3-4 of them at a given time and keep on investing or reducing your stakes in them, as the company either fares well or its fundamentals starts to go down. I might be recommending a momentum counter today or tomorrow, first to the Premium Member and then in Twitter (Handle: suman2009s). If you want to get the 1st mover advantage, then you need to join the Premium Information Service and get the required discounts; which is valid till 31st December 2018.

#Those who had earlier invested in the shares of Aro Granite Industries Ltd can average near the CMP of Rs.51 and exit near Rs.55-56 levels, ekeing out slight profits. The scrip is not performing according to expectations and hence it is better to put the money elsewhere. 

#The scrip of Kwality Ltd (Rs.10.50) which was hitting upper circuits eased after touching a high of around Rs.11.90 Profit booking was suggested to the Premium Members who bought around Rs.7, when it came down. The scrip might come down to Rs.8.5 before taking a fresh upmove. Though the company is facing temporary cash cruch, but these are blue chips in their respective sectors and the investors should do well to accumulate them on market declines, albeit with appropriate stop losses. I had said the same for Vedanta Ltd and Hindalco Ltd when they fell near their all-time lows, around a couple of years back. 

#Another encouraging development is that the Bank Nifty (26857.55) almost touched my target of 27000, I gave last month. You can book profits and wait for dips to enter The Entry and Exit levels will be mentioned to the Premium Members only.  

~~with inputs from Capital Market Live News and other sources including net searches and brokerage reports.

Winning Strokes: Think Different

Domestic shares inched up, extending gains for fifth day in a row, supported by recent weakness in crude oil prices and strength in local currency. Increase in fund flows from foreign portfolio investors also boosted sentiment. The benchmark indices, which opened on a strong note, settled with small gains after briefly slipping into negative terrain in afternoon trade.

Investors took some profits off the table ahead of a highly anticipated meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit in Argentina, which many hope will help ease escalating trade tensions between the two countries.

The Sensex rose 23.89 points or 0.07% to settle at 36,194.30, its highest closing level since 1 October 2018. The index rose 218.81 points, or 0.60% at the day's high of 36,389.22. The index fell 87.44 points, or 0.24% at the day's low of 36,082.97.

The Nifty 50 index rose 18.05 points or 0.17% to settle at 10,876.75, its highest closing level since 1 October 2018. The index rose 63.75 points, or 0.59% at the day's high of 10,922.45. The index fell 23.60 points, or 0.22% at the day's low of 10,835.10.

Among secondary barometers, the BSE Mid-Cap index rose 0.56%. The BSE Small-Cap index rose 0.52%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was almost even. On BSE, 1300 shares rose and 1303 shares fell. A total of 157 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 1.96%), the S&P BSE Healthcare index (up 1.78%), the S&P BSE IT index (up 1.03%) outperformed the Sensex. The S&P BSE Oil & Gas index (down 0.96%), the S&P BSE Metal index (down 0.51%), the S&P BSE Bankex (down 0.48%) underperformed the Sensex.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 69.77, compared with its close of 69.85 during the previous trading session.

In the global commodities markets, Brent for January 2019 settlement was off 51 cents at $59 a barrel. The contract had risen 75 cents, or 1.28% to settle at $59.51 a barrel during the previous trading session.

India imports majority of its crude requirements and a decline in crude eases concerns on fiscal deficit, inflation and gives more room for the government to boost growth through spending on infrastructure.

Meanwhile, Prime Minister Narendra Modi reached Buenos Aires, the capital of Argentina for the 2018 G20 summit, which is scheduled to begin today, 30 November 2018. The theme of the G20 summit is Building Consensus for a Fair and Sustainable Development.

According to reports, PM Modi met with Saudi Arabia Crown Prince Mohammed bin Salman on the sidelines of the G20 summit and they discussed ways to further boost economic, cultural and energy ties. The two sides also held discussions on enhancing investment in technology, renewable energy and food security.

On the sidelines of the two-day 13th G-20 summit, Modi, Trump and Japanese Premier Shinzo Abe will reportedly hold a trilateral meeting amidst China flexing its muscles in the strategic Indo-Pacific region. The trilateral, which would be an expansion of the bilateral meeting between Trump and Abe, is part of the series of meetings the US president would have on the sidelines of the G-20 summit on November 30 and December 1.

The Reserve Bank of India (RBI) on Thursday, 29 November 2018, relaxed rules for non-banking financial companies (NBFCs) to sell or securitise their loan books. In order to encourage non-banking financial companies (NBFCs) to securitise/assign their eligible assets, RBI has been decided to relax the minimum holding period (MHP) requirement for originating NBFCs, in respect of loans of original maturity above 5 years, to receipt of repayment of six monthly instalments or two quarterly instalments (as applicable). However, minimum retention requirement (MRR) for such securitisation/assignment transactions shall be 20% of the book value of the loans being securitised/20% of the cash flows from the assets assigned. The above dispensation shall be applicable to securitisation/assignment transactions carried out during a period of six months from the date of issuance of this circular. Other terms and conditions of the above referred directions remain the same, RBI said.

Overseas, European stocks were trading lower, while Asian markets settled mixed as key leaders congregated for a major event in Argentina. Leaders from around the globe are set to discuss key issues during this two-day G-20 summit, with many investors paying close attention to two leaders in particular: President Donald Trump and China's President Xi Jinping.ss

In Asia, growth in China's services industry slowed for the second straight month in November, an official survey showed. The official non-manufacturing Purchasing Managers' Index (PMI) released on Friday fell to 53.4 from 53.9 in October, but remained well above the 50-point mark that separates growth from contraction.

Growth in China's manufacturing sector stalled for the first time in over two years in November. The official Purchasing Managers' Index (PMI) fell to 50.0 in November from 50.2 in October, data showed on Friday. The 50-point mark is considered neutral territory, indicating no growth in activity or contraction on a monthly basis.

US stocks reversed direction to close lower Thursday as investors' attention shifted to a weekend meeting between President Donald Trump and Chinese President Xi Jinping.

Speaking to the media, Trump said he was "close to doing something with China" but that he wasn't sure he wanted to, citing revenue from tariffs on Chinese imports. Trump on Thursday tweeted that "billions of dollars" are pouring into the US Treasury from tariffs and that there is "a long way to go."

On the US data front, the number of Americans who applied for unemployment benefits last week rose to 234,000, their highest level in six months, according to the Labor Department.

The Commerce Department reported that consumer spending in October rose by 0.6%, while income rose by 0.5%. The same release showed personal-consumption expenditures, the Fed's preferred measure of inflation, right at the central bank's target of 2% year-over-year.

The National Association of Realtors reported that US pending home sales slid 2.6% in October from September, to their lowest level since June 2014.

Reliance Communications Ltd (Rs.14.25) jumped 11.92%. The Supreme Court today ordered the Department of Telecommunications (Union of India) to grant a No-Objection to Reliance Communications for spectrum trading within 7 days. RCom's 100% subsidiary, Reliance Realty, will submit a Corporate Guarantee of Rs 1,400 crore within 2 days. The Supreme Court upheld the earlier order of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT), and no Bank Guarantee is now required. The Spectrum trading transaction will now be completed and RCOM will pay-off Ericsson and minority investors of Reliance Infratel (RITL). RCom's asset monetization program thus proceeds as per plans. The scrip was recommended some weeks back in this block and was told foretold what was going to be the outcome of the Supreme Court Judgement.

Omkar Speciality Chemicals Ltd (Rs.13.45) hit the 3rd consecutive buyer freeze yesterday. The scrip was recommended a number of times in this blog and I am sure this scrip, which is thoroughly researched by me, would give stupendous returns going forward. A similar scrip, Global Offshore Services Ltd recommended at around Rs.11-12, made a high of Rs.20.40, almost doubling the holding in just few months.

Those who are holding the shares of Ishan Dyes and Chemicals Ltd  (Rs.55.55) has broken below the stop loss levels and hence those who have made profit in the counter should exit and invest in the next momentum scrip which I will mention in this blog on Monday.. To take the 1st mover advantage, you need to join the Premium Information Service, and take benefits of the discount offer which is valid till 31st December, 2018.

The shares of Uttam Galva Steels Ltd which was recommended at several prices yesterday hit another buyer freeze at Rs.12.10 in the NSE. I am anticipating a similar move in the shares of Uttam Value Steels Ltd (Re.0.10) in the next few months. Hence remain invested or buy the scrip in every decline

The scrip of Tata Steel Ltd (Rs.529.30) was recommended as a buy to the Premium Members at around Rs.522, for short term targets of Rs.541/587. After the acquisition of Bhusan Steel Ltd (which I recommended at around Rs.26.40 some days back on Twitter, CMP: Rs27.15), Tata Steel Ltd has started to show marked improvement in performance.

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

Winning Strokes: Think Different

Domestic stocks settled with modest gains following recent weakness in crude oil prices. The barometer index, the S&P BSE Sensex, rose 118.55 points or 0.34% to settle at 35,260.54. The Nifty 50 index rose 40.40 points or 0.38% to settle at 10,616.70.

Among secondary barometers, the BSE Mid-Cap index rose 0.74% to 14,992.48. The BSE Small-Cap index was flat at 14,548.04.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1099 shares rose and 1497 shares fell. A total of 139 shares were unchanged.

Yes Bank lost 7.42%. The bank informed that Ashok Chawla, non-executive independent part-time chairman, has tendered his resignation from the Bank's Board, with immediate effect, mentioning that during the current transition period, the Bank would need a Chairman who could devote more time and attention. The bank shall in due course announce the appointment of a Chairman, post RBI's approval. The announcement was made after market hours yesterday, 14 November 2018.

With the merger of Vodafone India with Idea Cellular, Grasim Industries' shareholding in the merged entity, Vodafone Idea (VIL) now stands at 11.55%. Consequently, VIL ceased to be an ‘Associate' of the company with effect from 31 August 2018. Accordingly, the share in profit after tax of VIL has not been consolidated with effect from 31 August 2018. The exceptional item of Rs.2003 crore represents the difference between book value and fair value of VIL as on 30 August 2018. This has been charged to the Profit and Loss Account, consequent to VIL ceasing to be an ‘Associate'.

In the global commodities markets, Brent for January 2019 settlement was off 4 cents at $66.08 a barrel. The contract rose 65 cents, or 0.99% to settle at $66.12 a barrel during the previous trading session.

India imports majority of its crude requirements and a decline in crude eases concerns on fiscal deficit, inflation and gives more room for the government to boost growth through spending on infrastructure.

Overseas, most European and Asian stock shares edged higher on Thursday as investors digest the latest news on Brexit. British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. The uncertainty surrounding a deal had earlier weighed on risk sentiment.

US stocks closed lower Wednesday, with the Dow Jones Industrial Average logging its longest losing streak in three months, as blue-chip Apple Inc. flirted with bear-market territory.

Meanwhile, US Federal Reserve Chairman Jerome Powell on Wednesday expressed confidence in US economic strength and said that markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019.

On the US data front, the Labor Department said the consumer-price index rose by 0.3%, while core CPI, excluding volatile food and energy prices, rose 0.2%.

#The shares of Global Offshore Services Ltd recommended in this blog around Rs.12. yesterday touched Rs.20.04 in the BSE last month. Congratulations to all those who made money in this scrip. 

#The shares of Omkar Speciality Chemicals Ltd yesterday rose to Rs.12.9, before closing flat at Rs.12.33. Omkar Specialty Chemicals Ltd is a Chemical Company in Mumbai, India, engaged in the production of Specialty Chemicals and Pharma Intermediates.

#The shares of Jet Airways Ltd (Rs.320.95) unexpectedly rose to Rs.334.9 based on the market rumour that Tata Group is going to take-over the company. But then with a debt of around Rs.12000 crore in its books and Tata group being already leveraged due its bet on Bhusan Steel Ltd bet, I have doubts about the turnaround of the Jet Airways Ltd, at least in the near future. I still maintain a sell on the scrip and feel that it would touch Rs.210/189 in the short term. Meanwhile, both the companies have brushed aside the media rantings, as "speculative". 

#I have recommended Uttam Value Steel Ltd (Re.0.15) to the punters who are subscribers to my Premium Information Service. The blog readers who are looking for a long term steel turnaround story can look at the stock of Uttam Value Steels Ltd, which was earlier known as Lloyd Steel Ltd. Uttam Value Steels reported operational revenue of Rs.2,704.2 crore for 2017-18, with a net loss of Rs.467 crore. It has a hot-rolled production capacity of 1 MT in Wardha. It buys pig iron from Uttam Galva Metallics, which is privately owned by the group. Now to set up a 1 MT steel plant, at least Rs.5000-6000 crore is needed. On Money Control BV of Uttam Value is shown as -Rs.1.17. It has Re.1 has face value. 

But 1 MT steel plant having a market cap of only Rs.125 crore is salivating, especially when ET reported on October 12 that JSW Steel, Liberty House, Aion Capital, Phoenix ARC and SSG Capital had submitted expressions of interest (EoIs) for the two subsidiaries of Uttam Galva Steels that owed Rs.3,200 crore and Rs.2,200 crore, respectively, to lenders. 

The ET on 31st October further wrote that: Prudent ARC, Asset Reconstruction Company (India) Limited (Arcil), a consortium led by SSG Capital Management and another consortium led by New Zone Intertrade FZE have joined the list of eligible resolution applicants for debt-ridden Uttam Value Steels and Uttam Galva Metallics. To add to the positives about Uttam Value Steels Ltd (Re.0.19 in the BSE) Live Mint reported on 1 November, that The State Bank of India had withdrawn an insolvency petition against this Mumbai-based steel company. The state-run lender’s move came after ArcelorMittal paid ₹7,469 crore to clear outstanding debts of Uttam Galva and KSS Petron, two companies in which Lakshmi Niwas Mittal had been a promoter. 

It is worth mentioning that On 24 March, Uttam Galva Steels Ltd (Rs.11.86) informed the exchanges it had received approvals from BSE and the National Stock Exchange to declassify the world’s largest steelmaker ArcelorMittal as a promoter of the company. ArcelorMittal had held a 29.1% stake since 2009 in the company.This leaves us to guess whether ArcelorMittal would be buying out the stake in Uttam Value Steel Ltd or not as the commodity cycle has started to move up with a spurt in the Crude Oil prices. The risk taking investors or punters can buy the scrip of Uttam Value Steels Ltd in the NSE aroud Re.0.15 and keep holding, for targets above Re.1, in the next couple of years.

#Yesterday, Bank Nifty gained 0.5% to closed near 25950 level due to buying witnessed in selective heavyweights. I still maintain the target of 27000 in the short term.

#Nifty opened positive but failed to cross the level of 10650. Nifty has been consolidating around 10450 to 10650 zones from last eight trading sessions. Nifty now has to hold above 10550 zone to further continue its upmove towards 10650/10750 marks. On the downside support exists at 10500 then 10450 levels.

#There is no stopping of the upmove of the share Sunil High Tech Ltd (Rs.2.83), which was recommended to the Punters at around 1.15, on Twitter. The scrip gave superb returns to the investors and has been hitting repeated circuits after that.....

#If you are genuinely interested in making money from the markets then bring in a fund of around Rs.3-5 lakhs, I will help you cover all your losses, through decent trading. If you can generate more funds, then profits would be much higher as money begets money. There will NO MARGIN TRADING -- only delivery based investments and occasional option trading.

Market Mantra

After hovering near flat line in morning trade, key equity indices bounced back in mid-morning trade. At 12:10 IST, the barometer index, the S&P BSE Sensex, was trading at 35,300 up 158.90 points while Nifty was seen at 10,6184 up 2.65 points. 

Most metal and FMCG shares advanced.

Among secondary barometers, the BSE Mid-Cap index was up 0.17%. The BSE Small-Cap index was down 0.03%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 931 shares rose and 1249 shares fell. A total of 109 shares were unchanged.

Alkem Laboratories rose 1.23% after the company said that USFDA has concluded inspection at its Taloja facility. The announcement was made after market hours yesterday, 14 November 2018. Alkem Laboratories said that USFDA had conducted an inspection at the company's Bioequivalence facility located at Taloja, Maharashtra from 8 November 2018 to 14 November 2018. At the end of the inspection, no Form 483 was issued.

Overseas, most Asian shares were trading higher after an improvement in market risk sentiment after British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. The uncertainty surrounding a deal had earlier weighed on risk sentiment.

US stocks closed lower Wednesday, with the Dow Jones Industrial Average logging its longest losing streak in three months, as blue-chip Apple Inc. flirted with bear-market territory.

Meanwhile, US Federal Reserve Chairman Jerome Powell on Wednesday expressed confidence in US economic strength and said that markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019.

On the US data front, the Labor Department said the consumer-price index rose by 0.3%, while core CPI, excluding volatile food and energy prices, rose 0.2%.

#Sell the shares of Jet Airways Ltd at around the CMP of Rs.275.15, for short term targets of Rs.210/189. It has a negative worth. Its outstanding to employees, vendors, oil companies, AAI, maintenance contractors, lessors & other suppliers has crossed Rs 12,000 Cr, according to a report in Rediff.com. The Stop Loss for Jet Airways Ltd is Rs.285 and Rs.292 (exit completely), in case the stock does not perform as expected. SELL, SELL, SELL!!

#A2z Infra Engineering Ltd (Rs.13.85) yesterday made an intraday high of Rs.13.85, while today it touched Rs.14.50, intraday. Buy the shares on all market declines.

#The scrip of Omkar  Speciality Chemicals Ltd is trading at around Rs.12.55 in the BSE, up 2.12%. Accumulate on declines.

Market Mantra

The market extended gains and hit fresh intraday high in mid-afternoon trade, backed by positive opening in the European market. At 15:15 IST, the barometer index, the S&P BSE Sensex, was trading at 35,148.46 up 335.47 points or 0.96% while Nifty was seen at 10,584.50 up 102.30 points or 0.98%.

The Nifty 50 index was up 91.15 points or 0.87% at 10,573.35. Gains were supported by firmness in oil sector stocks. The Sensex regained 35,000 mark in mid-afternoon trade.

Among secondary barometers, the BSE Mid-Cap index was up 0.09%. The BSE Small-Cap index was down 0.07%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1214 shares rose and 1292 shares fell. A total of 127 shares were unchanged.

On the economic front, India's industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%.

Inflation as measured by the Consumer Price Index stood at 3.31% in October compared to 3.70% in September, showed government data released on Monday.

Overseas, European equity markets opened higher on Tuesday, following a pullback in stocks stateside. Investors are keeping a close eye on oil prices, after new comments from President Donald Trump. He said that the group of oil producers OPEC should not cut supply to prop up the market.

Asian shares were mixed on the back of US stocks closing sharply lower Monday. In US, the Dow Jones Industrial Average tumbled 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.

#Buy the shares of A2z Infra Engineering (Rs.13.35) for short term targets of Rs.17/22/36/42. SL: Rs.9.40.

Shareholding Pattern:

• SICOM -- 3.57%
• Standard Chartered Bank -> 7.13%
• Aspire Emerging Fund (an FPI) -> 1.53%
• Edelweiss Asset Reconstruction Company Ltd -> 6.49%.
• Shankar Sharma, an Ace Investor -> 4.66%.

On 27 July, A2Z Infra Engineering announced OTS with lenders of A2Z Green Waste Management towards Debt of Rs.275.94 Cr, for a total consideration of Rs.70 crore.  On that day it hit 20% UC & was trading above Rs.24. Shankar Sharma is reported to have recently recommended it. This is going to be multibagger going forward as it has cut down its debts substantially and has good order book position. 

#The scrip of Omkar Speciality Chemicals Ltd and its sister concern Lasa Supergenerics Ltd hit their respective buyer freezes at Rs.11.71 and Rs.26.15 on the BSE. Congratulations to those who bought the scrip on my recommendation. 

#The Nifty would continue to get support above 10500 and would move towards 10700 in the coming days. The small and micro-cap rally is about to being as November-effect has kicked in. Therefore, book your seats in advance in this space.

#The scrip of Ishan Dyes & Chemicals Ltd (Rs.57.50) is consolidating around the current ranges before the next level of Upmove which is likely to take the scrip above Rs.67. Keep holding with a SL of Rs.56.

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

Crude Oil: Where the Prices can go?

Photo: Market Watch

What the heck happened to oil prices? But more significantly, what does it mean for the broader stock market and the global economy?

That is what has some Wall Street investors scratching their noggins, as crude futures and U.S. stocks staged a tandem tumble this week, just when investors thought the worst was over following a bruising October for risk assets. 

The near WTI futures price is down 23% since peaking on October 3rd as traders front ran the Iranian oil sanctions, which went in to place this week.  Fearing spiking oil prices, the U.S. granted waivers to eight of Iran’s largest buyers of crude – China, India, South Korea, Japan, Italy, Greece, Taiwan, and Turkey.

According to a report in the Economic Times, The oil bears are back, and they’re looking at OPEC before making their next move. While money managers slashed bets on rising West Texas Intermediate crude prices for a ninth week in their longest retreat on record, short-selling jumped to the highest in more than a year. The rapid shift in sentiment sets the stage for an OPEC meeting on Sunday to discuss market conditions. 

Now let us fathom a bit more:

Bulls: 

#Bottom might be near for crude. WTI’s 14-day relative strength index is below 30, a level marking

Photo: Live Mint

oversold territory.

#Iran supplying less crude.

#Declining production in Venezuela and risks in countries like Libya and Nigeria.

#Winter demands should keep the price of Crude Buoyant.

#If oil isn’t the undoing of this current bull stock market or a reflection of a souring economy, some market participants believe that one way or another, the end is nigh.

#OPEC kingpin Saudi Arabia believes the energy market has over-corrected in recent weeks. It comes as the world's top oil exporter grapples with a sharp drop in crude prices, amid cooling supply fears about the impact of U.S. sanctions on Iran.Saudi Arabia's energy minister also said the wider OPEC and non-OPEC alliance would not shy away from another round of production cuts over the coming weeks — if the group decided there was a need for such action.

#According to Ashray Ohri of ICICI Bank Ltd, “While a further fall may be warranted based on US’s temporary exemption on Iran and demand concerns, we believe oil prices are more likely to move to the upside as Iran exports get depleted further.” Having said that, is $80 a barrel on the horizon?

We believe a Brent rebound above the $80 a barrel level is less likely based on the current fundamentals and more responsible statements made by the US administration,” wrote Ohri in a report on 6 November. “As such, we expect oil prices to trade around the $75 a barrel mark and average $77 a barrel in the fourth quarter of this year, before cooling further to average $75 a barrel in Q1 2019.”

Bears:

#The net-long position in Brent dropped 15% to 260,048 contracts, ICE Futures Europe data show.

Longs fell 11%, while shorts rose 8%.

#Money managers cut their net-long positions on benchmark US gasoline by 8.2% and cut net-longs on diesel by 13%, according to the CFTC. 

#OPEC production at the highest since 2016.

#Record US output and waivers given to a number of importers of Iranian crude, including China. 

#Very large monthly down moves in crude oil has often heralded something more ominous.

Photo: Oil Price.com

# Few market participants believe that crude’s current downturn is a reflection of global economic weakness and precursor of something more pernicious to come, like a recession.

#Some market participants believe that  believes that the decline oil may fuel hedge fund selling and catalyze further pain for equity owners.

#Friday’s reading of U.S. wholesale inflation in October represented the biggest increase in six years and affirmed to some that the Federal Reserve would lift interest rates for a fourth time in 2018 next month and perhaps thrice more in 2019. That fact, combined with a slowdown in China’s economy and the hand-wringing around the Beijing-Washington trade dispute, have led some strategists to believe that the market is heading for a bear-market slide.

#There are reasons to be cautious about future returns: the growth/inflation mix is deteriorating and markets often have a sharp correction followed by a sharp rally prior to a more sustained bear market,” Goldman analysts wrote.

#According to Goldman, its indicator at 73% marks the highest bear-market reading since the late 1960s and early 1970s, which (with a few exceptions) is consistent with returns of zero over the following 12 months. Any reading above 60% signals that subsequent returns will be lower.

Meanwhile, Saudi Arabia's Energy Minister Khalid al-Falih told CNBC on Sunday: "Markets get it wrong occasionally as they did a few weeks ago on one side and they're doing it again on the other today, but ultimately the pendulum will swing to a reasonable middle". 

Testing Key Levels:

After bottoming below $42 on June 1, 2017, WTI’s 2-year uptrend has been violated and now testing critical Fibonacci retracement levels.  It has already sliced through the .382 at $63.32 and is now set to test the .500 at $59.12. The next key level is the .618 at around $55, which, if broken, it significantly increases the risk of giving it all back.

Of course, much also depends on the stance that the Organization of the Petroleum Exporting Countries and its friends take on production cuts. For now, lower crude oil prices are good news for us, as India imports a huge portion of its oil equirements. Lower prices benefit the country’s current account deficit and ease pressure on the rupee. For many corporates too, easing crude oil prices will bring some relief on the costs front.

 Sources:

#Market Watch

#The Economic Times

#OIL PRICE.com

#CNBC

#Live Mint

Winning Strokes: Think Different

Photo: Best Stock Picks from Dolly Khanna

Amid a divergent trend among various index constituents, the key benchmark indices settled with small gains. The Nifty gained marginally 6 points to close at 10530 lead by Reliance, Coal India, NTPC and ONGC. The Sensex settled a tad below the psychological 35,000 level after moving above and below that level amid volatility in intraday trade.

The market saw a positive opening led by buying demand in index pivotals. Stocks trimmed gains in morning trade. Key indices hovered in positive zone in mid-morning trade. Stocks gyrated in a small range with positive bias in early afternoon trade. Indices firmed up in afternoon trade. Key indices dipped in negative zone in mid-afternoon trade. Stocks regained positive zone in late trade.

The Sensex rose 40.99 points or 0.12% to settle at 34,991.91. The index rose 245.11 points, or 0.70% at the day's high of 35,196.03. The index fell 61.20 points, or 0.18% at the day's low of 34,889.72.

The Nifty 50 index rose 6 points or 0.06% to settle at 10,530. The index rose 76.25 points, or 0.72% at the day's high of 10,600.25. The index fell 32.55 points, or 0.31% at the day's low of 10,491.45.

The S&P BSE Mid-Cap index fell 0.62%. The S&P BSE Small-Cap index fell 0.06%.

The market breadth, indicating the overall health of the market, was just about positive. On the BSE, 1284 shares rose and 1274 shares fell. A total of 154 shares were unchanged.

Power Grid Corporation of India rose 1.08%. The company's net profit rose 7.9% to Rs 2309.49 crore on 14.2% increase in net sales to Rs 8283.03 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 5 November 2018.

Coal India rose 0.64%. The company said that the Government of India reduced its stake in the company by 3.19% to make its holding stand at 75.13% of the equity share capital of the company. The announcement was made after market hours yesterday, 5 November 2018.

Adani Gas gained 4.95% after the company announced that in order to leverage India's rapidly growing gas market, the company has planned to invest over Rs 8000 crore in the next 5 years to consolidate its position as the largest private company in the sector. It is noteworthy that India's current city gas distribution (CGD) consumption is about 15-18% of domestic gas production and even at peak demand, consumption will be around 25-30%. The announcement was made after market hours yesterday, 5 November 2018.

Domestic stock markets will remain shut tomorrow, 7 November 2018, on account of Diwali Laxmi Pujan and again on Thursday, 8 November 2018 on account of Diwali Balipratipada. However, markets will remain open for special Muhurat trading session between 17:15 IST and 18:30 IST on 7 November 2018.

On the political front, the ruling Congress-JDS alliance has won 2 Lok Sabha seats and 2 Assembly seats in the Karnataka bypolls, which were held on Saturday. In a blow ahead of the 2019 general elections, the Bharatiya Janata Party managed to win only one parliamentary seat. The Congress has won Ballari parliamentary constituency and Jamkhandi assembly seat, while its ally JD(S) has taken Mandya and Shivamogga Lok Sabha seats. The Congress and JD(S) allied together to fight the BJP in the by-polls that would be a testing ground for the alliance before 2019 general elections. With today's victory, the Congress-JD(S) alliance's tally has increased to 120 seats in the 224 member assembly where the BJP has 104 MLAs.

Among the global markets, Asian markets closed on a smart rally while European markets declined. USD-INR declined 6 paisa and Brent Crude slipped over half percent at below $73/bbl. 

On Thursday, the US  Fed concludes a two-day policy meeting, which isn't expected to deliver a change in rates, but may offer fresh insights to investors about the pace of coming rate increases and the effects of trade clashes between the US and China on the domestic economy. US mid-term poll will be held today. In US economic data, the ISM services index slipped to 60.3 in October, down from 61.6 in September.

Nifty formed a Spinning Top Candle on daily chart as follow up buying/selling is missing on either side. Since some days Nifty has been consolidating between 10450-10600. Nifty has multiple supports around 10423/10277/10254 ranges and hence bullish trend is likely to continue as the Nifty consolidates around 10423-10600 zones. If this support level holds then we would look forward for targets of 10650 -10750 for Nifty_Spot in the coming days. 

#Omkar Speciality Chemicals Ltd hit the Upper Circuits in the NSE at Rs.10.40. It's sister concern Lasa Supergenerics Ltd has also hit the Upper Circuits at Rs.21.65 in the BSE. Both the stocks are likely to give solid returns to the investors going forward, as mentioned in my earlier posts. Moreover, you can choose either of the two or both for long term value creation. 

#The scrip of Yes Bank Ltd today made an intraday high of Rs.217.90, which is almost near my 2nd target of Rs.221. It closed at Rs.214.45 with a gain of around 2.07% in the NSE.

#The stock of UCO Bank Ltd which was recommended on Facebook last Sunday made a high of Rs.22.35 before closing at Rs.21.30. There are lot of positive developments taking place in this bank, and hence once the level of Rs.22-23 is cleared on the upside we can look for targets of Rs.27-31. Keep  a SL at Rs.19, in case the share does not perform as expected. 

#The stock of Anant Raj Ltd, which has a good land bank in the NCR region today closed flat at Rs.36.55, after making an intrday high of Rs.37.25. The stock has multiple supports around Rs.32-35 ranges and hence accumulate it on dips to build your long term portfolio. 

#The stock of Ishan Dyes & Chemicals Ltd (Rs.58.35) which was recommended last week in this blog at around Rs.47-48. today made a high of Rs.63 and closed above the psychological level of Rs.57 up more than 4%. It is one of the manufacturers of H-acid, which his a hot commodity now due to Chinese crackdown. For those who have entered earlier should look to book some profits as the scrip is looking a little stretched on the charts. I feel after some consolidation around the current ranges, the stock would again try to test the Rs.62-63 zone. Hence, if you have invested recently then you can remain invested with a SL at Rs.56 (exit) on closing basis.

#There is no stopping of Eros International Media Ltd after the company came out with superb Q2FY19 results. Today the share made an intraday high of Rs.106.80 before closing at Rs.105.60. The scrip is showing good momentum and have formed a bullish 3-white soldier pattern on the daily chart confirming reversal of the bearish trend. We can look for targets of Rs.131-137 in the coming days. Remain invested with a SL at Rs.97.

WISH YOU ALL A VERY HAPPY KAALI POOJA, LAXMI POOJA & DEEPAWALI. MAY GOD BLESS YOU ALL, WITH WEALTH AND PROSPERITY. 

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

Some Raw Data

Photo: Best Picks From Dolly Khanna

1. Lasa Supergenerics Ltd (Rs.21.70):~

#Market Cap: Rs.49.50 Cr

#EPS - Rs.1.02

#Price/Book -- Rs.0.42

#P/E -- 21.23

#Industry P/E -- 39.22
#Face Value -- Rs.10

2. Omkar Speciality Chemicals Ltd (Rs.10.10):~

#Market Cap -- Rs.21.38 Cr only.

#P/E -- 0.58

#Book Value -- Rs.94.99

#EPS -- Rs.18.02 (From Money Control Website. Double Check from your sources)

#Price/Book -- 0.11

#Industry P/E -- 39.22

#Face Value -- Rs.10.

Though the scrip of Lasa Supergenerics Ltd has been hitting the upper circuits since the last couple of days. I find that, its parent company, Omkar Speciality Chemicals Ltd where corporate bodies and NRIs hold 6.55% and 2.94% respectively, to be more promising.
However, both the companies are good as far as creating wealth for the shareholders are concerned and hence you can decide your choice, from the two. 

Winning Strokes: Think Different

Anant Raj, Tech Park - Panchkula, Haryana

Key equity indices settled with modest losses on first trading day of the week due to negative Asian stocks. Key barometers remained in negative zone for majority of the day's trading session. The Sensex settled below the psychological 35,000 level after sliding below that level in early trade.

The Sensex fell 60.73 points or 0.17% to settle at 34,950.92. The index rose 111.76 points, or 0.32% at the day's high of 35,123.41. The index fell 200.05 points, or 0.57% at the day's low of 34,811.60.

The Nifty 50 index fell 24.80 points or 0.24% to settle at 10,528.20. The index rose 5.80 points, or 0.05% at the day's high of 10,558.80. The index fell 76 points, or 0.72% at the day's low of 10,477.

The S&P BSE Mid-Cap index fell 0.47%. The S&P BSE Small-Cap index fell 0.28%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1290 shares rose and 1308 shares fell. A total of 194 shares were unchanged.

State Bank of India jumped 3.45%. The bank's net profit fell 40.26% to Rs 944.87 crore on 1.80% increase in total income to Rs 66,607.98 crore in Q2 September 2018 over Q2 September 2017. The result was announced at the fag end of trading session today, 5 November 2018.

Cipla lost 7.33% after consolidated net profit fell 15.64% to Rs 366.91 crore on 1.01% decline in net sales to Rs 3947.93 crore in Q2 September 2018 over Q2 September 2017. The result was announced during trading hours today, 5 November 2018.

Umang Vohra, MD and Global CEO, Cipla, said that the company had a modest quarter but maintained a strong performance in its private market segment across geographies. Cipla's limited competition assets in the US are ramping up to drive quarter-on-quarter growth. The company also recently announced the approval of Metoprolol, another limited competition asset. As the firm enters the second half of this fiscal, multiple headwinds are likely to impact its reported performance. Having said that, the company is focusing on positioning its businesses for long term growth.

On the macro front, October data pointed to a stronger improvement in India's service sector, with an accelerated upturn in new work underpinning quicker rises in activity and jobs. Cost inflationary pressures eased, resulting in a softer increase in selling prices. Meanwhile, business sentiment remained positive, but was hampered by political uncertainty. At 52.2 in October, the seasonally adjusted Nikkei India Services Business Activity Index posted in expansion territory for the fifth straight month. Moreover, rising from 50.9 in September, the latest figure pointed to the quickest rate of growth since July.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 73.03, compared with its close of 72.45 during the previous trading session.

In the global commodities markets, Brent for January 2018 settlement was down 3 cents at $72.80 a barrel. The contract had fallen 6 cents, or 0.08% to settle at $72.83 a barrel during the previous trading session.

#The stock of Omkar Specialty Chemicals Ltd closed at Rs.9.95 in the NSE while its sister company, Lasa Supergenerics Ltd, which is into making of Veterinary APIs hit the upper circuits and closed at 20.65. Moreover, API Division’s turnover, as on March 31, 2015, was only Rs.71 Crores, amounting to 26.8% of total turnover of OSCL. This mean the bulk of the business is still with the parent company Omkar Speciality Chemicals Ltd. This gives some indication regarding the future path of this company. 

#Discount for the Life-time offer at less than Rs.2000 per year will close on 31st December, 2018. Those who want to avail of the discount should join before the stipulated time. The price of this package is likely to increase from 1st January, 2019. Also, discount is also being shelled out for the Yearly Package for Premium Subscription and will continue till 31st December, '18.. 

#My recommended Eros International Media Ltd reached my 2nd target of Rs.97, as the scrip hit the intraday high of Rs.98.9 and closed at Rs.97.55. What to do with this scrip? 

#The scrip of Yes Bank Ltd today made an intraday high of Rs.212.35 before closing at Rs.210.10. The has already reached my 1st target and nearly touched my 2nd target of Rs.221, this week. 

#The stock of UCO Bank Ltd recommended on Facebook on last Sunday in Facebook at Rs.18.50, made a high of Rs.22 in the BSE before closing at Rs.21.05 up 14.09%. Lot of positive developments are taking place in the company and if Rs.22-23 zone is cleared on the upside we could soon see the targets of Rs.27-31.

#Today Bank Nifty closed at 25732.2 up 30.55 points or 0.12%. I still maintain a target of 27000 in the coming days.

#The scrip of Ishan Dyes & Chemicals Ltd recommended in this blog at around Rs.47, today made an intraday high of Rs.58 and closed at Rs.55.75 above my 2nd target of Rs.55. The company is a major players in the H-acid segment. How to play with this scrip?

##The stock of Den Networks Ltd (Rs.68.45) has strong support around Rs.67-67.5 ranges. The scrip was recommended on 8 August, 2018 in this blog, at around Rs.47-48.20, citing the reasons for purchase; after which it made a high of Rs.80.30  in the BSE.. It was recommended earlier, but at much lesser price. If you follow this blog, then you can make lot of money, provided you do a bit of your own research too. 

#A Buy was initiated in the shares of Triveni Turbine Ltd at around Rs.111, for short term targets of Rs.117-135. SL: Rs.96 on last Friday.. The scrip made an intraday high of Rs.115.35, before  closing at Rs.113. The board of Triveni Turbine on Thursday approved a proposal for buyback at ₹150 a share for an aggregate amount not exceeding ₹100 crore, it said in a release to the exchanges. The buyback will be on proportionate basis and the resultant equity shares to be bought back with the maximum price is 66.66 lakh shares. The board of directors also noted the intention of the promoters to participate in the proposed buyback.

#A Buy was initiated in the scrip of Anant Raj Ltd at around Rs.37.5-38, for short term targets of Rs.45/52/56. SL: Rs.32. Anant Raj Group is one of the leading Construction and Infrastructure Developers in North India. The Anant Raj Group established in 1969, has to its credit landmark projects created through 4 decades of trust and experience. The company has a good land bank in the NCR region.

The entire land bank was acquired at a very low price and it is fully paid. Again, this land bank is within 50 KM of Delhi area. The company has portfolio of real estate assets which are spread in balanced manner.  There are land plots as also ready to lease commercial plots. Again company also has a township project named Anant Raj Estate. In addition, there are hotel plots also. This diversified balanced portfolio provides company the rental income, which generates cash flows, while other part of the real estate provides capital appreciation. If you have money, then buy and keep holding. I can assure you 100% returns from this price or the CMP; if the market (Nifty) continues to stay above 10450. The Face Value of the scrip is Rs.2 and not Rs.10.

#Nifty closed flat today at 10524 as expected. I had mentioned in Twitter on last Sunday that Nifty is likely to move sideways for some time before taking the route to touch 10700; while the action would be shifted in the small and mid cap space.

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