Sunday, May 13, 2007

 

India Stock Market Update 13 May 2007

Uttar Pradesh elections have come and gone, and a major winner introduced. Mayawati managed to stitch together a grand coalition of forward castes, backward castes and Muslims, and blew away everybody else. Uttar Pradesh is the largest popuplated state in the country, and any administration that can spur economic development in the state would be good for the country as a whole.
Seems like inflation is on the spur of coming down marginally, and that could mean that the RBI will stop squeezing credit growth in the economy. It is necessary to combat inflation, but hurts a lot of people and companies, including people who believed in the booming economy and bought houses taking advantage of cheap loans. Such people are feeling the pinch of increase in their interest rates, and could do with moving to a as-previous low interest regime.
Stocks that I am currently tracking:
1. United Drilling: Rs. 23.15
2. IFCI - Rs. 47.20
3. Reliance Industries - Rs. 1593
4. Yes Bank - Rs. 154
5. Supreme Industries - Rs. 225

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