Tuesday, May 22, 2007

 

India Stock Market Update 23 May 2007

The sensex is again reaching all time highs, and the buzz is that a correction is now overdue. So, it is a good time to take profits in some shares. Such times are always uncertain because you really don't know whether the market will continue to go high, or take a correction of anywhere between 300-500 points. Such a correction could reduce share prices, so I have taken profit in some shares, but am hopeful that the India story still continues.
I continue to remain very hopeful of the India story, given that the situation still remains conducive. The Government, as can be seen in the tussle over the SEZ's, continues to remain committed to some extent in the development model, and things should remain good for the long term; it is the short term corrections that make somewhat of a difference to our valuations. On the other hand, the government will be mindful of the elections in 200, and will start to hesitant to take the decisions that could come with political cost. If they don't do too much of this, Indian industry remains on a growth track.
Some of the stocks that I am currently tracking:
1. Reliance Industries - Rs. 1766
2. Yes Bank - Rs. 172
3. Indiabull Realty - Rs. 383
4. JMC Projects - Rs. 267
5. Mather Pumps - Rs. 269

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