Thursday, May 03, 2007
India Stock Market Update 04 May 2007
I have no doubt that this will make an impact. However, India has also a local booming market with its own consumption pattern and demand, and that remains unaffected to some extent by these changes. So, companies will adjust to these changes. Many exporters may start importing more raw materials if they start to get cheaper.
As the UP election gets over, the Government seems to be displaying a reformist tend again, with some corrections spoken after the budget, related to cement prices and to FBT for ESOP's. Plus, under pressure from corporates, the Government may amend the SEZ policy to again allow the state to atleast procure 10% of the land requirement. This is a good step.
Stocks that I am currently tracking:
1. Allianz Securities: Rs. 56
2. Ashiana Housing: Rs. 181
3. Adhunik Metaliks: Rs. 48
4. Era Constructions: Rs. 394
5. JMC Projects: Rs. 231
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