Wednesday, June 27, 2007

 

India Stock Market Update 27 June 2007

The market made a small down, but has been hovering up and down. There are a number of people who are worried that a correction is imminent, since small caps have started moving up, and large caps are slowly drifting down. Everything depends on how the earning numbers for the quarter looks like, but if things start falling because of say the high interest rates or because of the fall of the dollar, a medium correction could happen.
Long term, the growth story seems intact, but it will have a lot of twists and turns, with the market bouncing all over. There are still plenty of stocks with growth potential, but one should not get worried if a stock suddenly falls one day and up the next. Textile remains in the doldrums, and real estate is starting to get worrying because of the stagnation in the market and the fact that experts are calling a decline in the market. There was a story in the paper about smaller property builders trying to liquidate their holding because the market is not so good anymore.
Some of the stocks that I am currently tracking:
1. Bartronics: Rs. 141
2. Supreme Industries: Rs. 210
3. KLG Systel: Rs. 450
4. Yes Bank: Rs. 171
5. Nucleus Software: Rs. 1000

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Sunday, June 24, 2007

 

India Stock Market Update 24 June 2007

Is there hope for the stock market right now? There are signs that with inflation down, things may seem to be better on the credit squeeze. The credit squeeze caused money to become more expensive, and if inflation remains down for some more time, we will stop hearing all the comments about the 'aam admi' hurting, and industries will get easier credit for their expansion plans. This is the chief way to get higher growth, and one should mostly ignore the left parties.
The Government seems to be making an effort to get some pension funds into the equity market (even under some tight controls), and if they manage to get past the obstacle of the left parties, there will be a lot more funds coming into the market.
At the same time, the Finance Minister is dropping hints about the floating of more PSU's into the equity market, but unless the PSU's are given more functional autonomy, it really would not benefit them too much. PSU's have been trailing private sector companies in growth of their share prices, and this is primarily because they take their policies from the government, and government policies are not dictated only on the basis of economic considerations.
Some stocks that I am currently tracking:
1. Ashiana Housing: Rs. 190
2. Reliance Capital: Rs 1088
3. Praj Industries: Rs. 489
4. JMC Projects: Rs. 255

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Tuesday, June 19, 2007

 

India Stock Market Update 19 June 2007

Been some time that I wrote about the Indian stock market, got somewhat busy. This was also the time when the DLF issue came and went. The price is near the high end of the range, Rs. 525. The sensex has been upto its usual tricks during this period, moving up and down. Today was a good day, with the market jumping up by 170 points. However, it is still some time away from the historic high of the sensex of 14,700 points, achieved a few months back.
Overall, how do things look ? On the inflation level, things are somewhat better now, but still have not hit RBI's comfort level, so the danger of a credit squeeze has not yet gone away. The Prime Minister and Finance Minister keep on making noises about reform, but the left promises to dispose of whatever these 2 propose, so things will remain fluid in terms of reform.
One major problems remains the tendency of the government to assume some things about what will hit the 'aam admi' (the common man). Hence, the Government wants to protect small retailers by proposing a cap on big retailers such as Reliance. This is crazy, and smacks of a license raaj kind of system. Similarly, the Government absolutely refuses to come out with a SEZ policy that can be stated as complete; due to pressures, whether from industry or otherwise, they keep on changing their policies.
Stocks that I am currently tracking:
1. Infosys Tech: Rs. 2000
2. Revathi: Rs. 797
3. Yes bank: Rs. 160
4. Torrent Cable: Rs. 167
5. IFCI: Rs. 50

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