The Hindu Business Line : Lights, camera, action in media stocks

At last the CMP is out but markets are not cheerful. Yet, Khan, Jogin, Sridevi and Dakshinamoorthy gather strength to chitchat about the money business. Catch up.

Sri: Hellooo... (yawn)... I see Sensex gain 200-300 points!

Jog: Hey, stop dreaming! Overall mood is bad.

Kay: Derivatives outstanding positions are down drastically. That could lead to bounce-back in the market this week. I guess.

Jog: Dr Reddy's results came after markets closed. Any clues?

Kay: I see selling happening because numbers disappointed the street. You can find people switching to Ranbaxy, because it is perceived to be safer.

Sri: Shall I go on a holiday till Chiddu lets the Budget cat out of the bag?

Dax: I know you'll run if you saw a mouse on the monitor.

LOL. Still, after Budget, things will become clearer.

Like, doodh ka doodh, and pani ka pani.

Jog: Steel is getting nervous.

SAIL ko dekho, we expected a dividend of 20 per cent. Management has decided not to pay any. No wind in the sail. :-(

Sri: I thought you had muscles of iron. Build up your position in Tata Steel. Board meets on June 7 for bonus.

Kay: Ratio expected is 2:3 or 3:5. Simply guessing hard. Stock can rise before weekend.

Dax: Heard the news about Electricity Act getting reviewed? Mood is sombre because reforms will take a backseat. Tata Power and Reliance Energy: voltage low looks like.

Kay: Banking stocks having derivatives trading could see rise next week.

Jog: Cement despatch numbers can favour Guj Amb and ACC. I'm +ve.

Dax: Yes, in May construction peaks in West and North - before rain sets in.

Sri: That reminds me. CMP talks of agriculture. AP is going for Rs 500 crore drip irrigation. Will it rain in Jain Irrigation?

Kay: Automobile numbers will be out. Don't expect them to be impressive. If they're sober, that would reflect on components too. Room for - ve surprise. Look for monthly sales figures from Hero Honda, TVS and Bajaj Auto, but don't idly accelerate!

Jog: Hey, I'm putting media stocks back on my buy list.

Sri: Look for action in Mukta Arts, Shree Adhikary Brothers and Pritish Nandy.

Dax: Lights-camera-action?

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Lee, with inputs from Vir, Bad and Nat.

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