Sunday, April 15, 2007
India Stock Market Update 15 April 2007
But even with this, the Government buckled down, and stated that SEZ proposals received after April 5 will not be processed. This flies in the face of conventional logic. There is no country that progresses on the back of an agrarian economy, economic development only happens when countries move up the industrial / services ladder, and majority of the people are employed in these sectors. The agrarian sector, especially in India where plot sizes are small and do not generate food on a large scale is not the way to go. The hope is that this move does not reduce the general optimism in the sector.
The inflation level has reduced, and hence there is hope that the continued movement in the RBI trying to squeeze money from the economy should now reduce, and credit availability for the industrial sector should continue. The good results of Infosys should continue to keep the market in good humour, but if I want to speculate, I would think that the next week will continue to be slightly negative since there has been upturn in the market for the past few weeks (net), and profit taking may happen.
Stocks that I am currently tracking:
1. Hindustan Constructions: Rs. 96
2. Tele Data Informatics: Rs. 65.80
3. Marksans Pharma Limited: Rs. 66.75 (short term)
4. JMC Project: Rs. 220
5. Mather and Platt Pump: Rs. 232
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