Gitanjali Gem is one of the largest Jewelers in India. We are highly bullish on this stock. One of the best stock to start your new year. So enter this stock near 300 to 305 for target 330 / 347. Keep stoploss near 289. We are sure this company has huge growth potential. ... [Continue Reading]
Coal India Ltd. Lists At Rs.291, Gaining More Than 30%
India's largest IPO, Coal India Ltd. lists today at Rs.291 vs issue price of Rs.245. The most gain was for the retail investors, who got 5% discount in the IPO. The stock went up in very short time after listing amd made a high of Rs.324.95. We have strongly recommended to subscribe this IPO. ... [Continue Reading]
RBI Hikes Interest Rates by 25 bps
Reserve Bank of India (RBI) hiked the repo and reverse repo rates by 25 basis points (BPS) each to 5.25% and 6.25%, respectively as they came inline with the market expectations. However, the Cash Reserve Ratio (CRR) has been kept steady at 6%. Market Outlook: The rates by RBI were as expected by the markets. Nifty and Sensex will be trading in a very narrow range today. However we are still ... [Continue Reading]
Nifty to Jump About 150 Points Next Week
As per our analysis, we expect a strong bounce back on nifty for about 150 points next week. This jump was confirmed on Friday (29-Oct). As we saw Nifty sharply advanced after touching the 50 DMA of 5933. This shows that the markets have finally found its support at 5933 levels, So considering these levels we see limited downside from here and an upside potential towards 6116 / 6158 levels. Stop ... [Continue Reading]
SAIL Second Quarter Result Disappoints, net profit down 34%
India's second largest steel company Steel Authority of India (SAIL) has announced its second quarter (ended September 2010) results today. The company has reported a net profit of Rs.1,090 cr as against Rs.1,660 cr last quarter, down 34.34% on year-on-year basis (YoY). Net sales jumped 6.63% to Rs.10,603 cr from Rs.9,944 cr (Year on year basis). Also, Earning before interest, depreciation, tax ... [Continue Reading]
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