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Monday, 8 October 2007
Consolidated Construction IPO (CCCL IPO) Allotment Status
You can check CCCL IPO allotment status here here
IFCI
CMP: Rs 77. This is a good price to buy this stock. This stock has fallen almost 25% from its peak of Rs 105 in the last few days. Once the news of bid formalises I think this will again be in the front liners.
Satyam
Satyam has been doing well since last 3-4 trading sessions. It has gone up by almost 7-8% in that period.
Anil Padia is of the view that from the current levels it has a target of Rs 520 if it crosses Rs 460 and maintains that for at least a couple of days.
Opportunity to buy stocks?
Is this an opportunity to buy stocks 5-10% cheaper? Yes, as per Market expert Gul Teckchandani. He says "Do not stay off because people like us will use this volatility to our advantage. A lot of people have been saying that this is because of the political environment. But then you have to also explain why in the morning the market was up about 200 points. I think the momentum counters are taking a hit. You have to select where you want to be invested, hunt for your own companies, and use this kind of a downslide where you are getting stocks on an average between 5-10% cheaper, if you believe in the companies," he added.
Anil Padia, Director, Kedia Shares & Stock Brokers, feels investors should use this correction to buy. "Since we are in such a big strong bull market, I am not expecting the markets to correct much although it may come down to 16,650 and that would be a good level to buy. The markets could remain in a 16,650 to 18,000 range this month," he added.
IT stocks
Heavy selling has been witnessed across the board today but IT stocks seem to be doing well. Satyam gained 2.62 % today, TCS was up 2.04%. iGate solutions was a star performer today. It touched a high of Rs 273, up almost 9% today. Technical Analyst, Vijay Bhambwani is of the view that IT stocks are likely to move up from the current levels.
Markets today
Sensex was down today majorly on account of political uncertainly with the ruling party hinting at mid-term elections. About 561 shares have advanced, 2435 shares declined and 45 shares have remained unchanged. Metals, banks and reality stocks have been hard hit. At one point market was down nearly 400 points or over 2%.
IFCI
It was another bad day for IFCI. It lost almost 9% today. It has gone done my about 20% in the last few trading sessions. Many analysts still hold the view that IFCI is a good long term buy.
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