Sunday, July 22, 2007
India stock market update 22 July 2007
What am I doing ? I am reviewing my stocks to identify those that are slightly junk, or not based on fundamentals and liquidate them. I am also encouraging family members to diversify funds towards fixed deposits, getting 10% is not such a bad deal for some amount of money. Also putting money in my regular Mutual Funds such as HDFC Prudence, Franklin Flexicap, SBI Magnum, SBI Taxgain, and Reliance Equity Opportunities Fund.
Am I putting fresh money into the market? Yes, I am. I have a long term belief in the market, and as long as I am convinced in the fundamentals of the stocks that I am investing in, then I will continue to put money. I was reading some more about Reliance's quest for further oil and gas in the blocks that it holds for exploration, and it may make sense to continue investing in Reliance for the long term. The problem with Reliance is that it is very difficult to think in terms of selling the stock.
Stocks that I am currently tracking:
1. GSFC: Rs. 205
2. Era Constructions: Rs. 540 (with some care)
3. Schrader Duncan (ICICI Direct code SSDUNC): Rs. 309
4. Garnet Constructions: Rs. 58
5. Voltas: Rs. 150
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