Wednesday, 26 September 2007


IFCI is still very positive. Wait for correction and buy IFCI on dips.

CMP: 97.85

Nagarjuna Construction

Nagarjuna Construction has bagged 3 new orders work Rs 243 crores, which includes consruction of "Embassay of India complex" at Kathmandu.

Block Deal

50 lakh TTML shares changed hands today on NSE and BSE over a number of deals.

Stock News

- Tata Sons has acquired 14.68% stake in Praj Industries worth Rs 338.24 crore.

- Videocon is about to foray into the domestic mobile telephony business. They have applied for licences in all 22 telecom circles in the country.

Tata Teleservices

Tata Teleservices gained smartly today. It closed at 43.55 which is 7.00% higher than yesterday. I gave this recommendation when the price of this stock was 28.40. A cool 53% increase!!!

IPO News: Supreme Infrastructure India

Supreme Infrastructure India (SIIL) has been oversubscribed by almost 3 times on the third day of its issue. The offer will close on September 26th. The feedback for this has mostly been positive and investors can subscribe for listing gains as well as for investment.

Stock Markets today

Markets ended relatively flat today after a rather dramatic day!! SENSEX touched 17000 mark but closed at 16921.39, 21.85 points up from yesterday. It took 6 days for SENSEX to reach 17K from 16K!!

Although Technology shares have being lagging behind for quite some time now but they were the major propellers today. Satyam gained 4.81% while Wipro closed 4.33% higher than yesterday. Banking shares also had a relatively good day today.

Stock idea: Idea Cellular

Idea cellular looks like a good buy from a long term perspective.

CMP: 129.70

Hot Stock: GMR Infra

You can buy GMR Infrastructure with a stop loss of 760-770 for a target of 990-1015.

CMP: 855

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.