Sunday, 21 September 2008

GMR Infrastructure: Hold

I advice the investors to hold the stock with a long term perspective. Though the company has big projects including power projects in the pipeline, such projects have long gestation period.: Ashish Kapur: CEO: Invest Shoppe

72K cr gain in a week!

Shares of over 340 companies including blue chips like Reliance Industries, ONGC and Bharti braved the global financial crisis and gained Rs 72,000 crore in market valuation in the past week.

Interestingly, banking stocks including HDFC Bank, Kotak Mahindra Bank, Punjab National Bank, Yes Bank, Axis Bank, Bank of Baroda and Oriental Bank also saw their market valuations swell up.

Surprisingly, country's largest private sector housing finance company HDFC gained over Rs 3,000 crore in marketcap in the past five trading sessions. Its marketcap stood at Rs 65,613 crore on Friday last week as against Rs 61, 934 crore at the end of previous week.


HDFC Securities has given a Buy rating for Nestle from a medium term perspective. CMP of this stock is Rs 91.

ICICI on recovery

ICICI had lost almost 22% in the last seven sessions on fear of over exposure to the foreign markets and that it could be adversely hit by the current crisis. On Friday it made an assurance that it has made all disclosures of its foreign investments. On back of Friday’s rally the share recovered almost 10%.

The stock closed 9.07 per cent higher at Rs 628.10, off the day’s high of Rs 635.

Asian Stock markets a happy lot

Monday has come as good news as Asian share prices soared in early trade on the back on news of US government’s mammoth rescue plan for the battered financial sector. Highlight is the move by the US Treasury to ask Congress for authority to spend 700 billion dollars to buy bad mortgage-related assets from financial institutions. This has in some marginal way returned the investor’s confidence back into the markets.

Japanese shares were up 1.98 per cent in morning trade and Australia's market jumped 3.5 per cent, with financial stocks leading the charge. New Zealand rose 2.47 per cent by mid-afternoon. Chinese prices opened up more than eight per cent, Hong Kong rose 2.8 per cent, Singapore was up 1.03 per cent and South Korea's KOSPI index gained 1.62 per cent.

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.