Financial Daily from THE HINDU group of publications
Monday, Aug 02, 2004
Financial Daily from THE HINDU group of publications Monday, Aug 02, 2004 |
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Markets
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Stock Markets Don't buy dirt at dirt-cheap price
Jogin, Khan, Dakshinamoorthy and Sridevi squeeze in a few minutes to collectively market-gaze. Take a peek.
Dax: Market closed firm last week. Sensex and Nifty are at very crucial levels. Kay: Technically, at 5170, Sensex is above the crucial 5167. If this level is sustained till Friday, market may rise sharply. Jog: Hello, somebody offered me GTB stock dirt-cheap. :-)
Sri: Small is not necessarily beautiful, particularly on the Street. Dax: Earn ings season is almost behind us. Monsoon progress can be the trigger. Kay: Stocks worth looking are Sintex, iGate Global. Shanti Gears stock has Moved very fast after the stock split and some profit booking is desired. Dax: I guess market is spotting dark horses among the mid and small cap stocks with low P/E and free of debts. Polyolefins Rubber (P/E 1.5), and Blow Plast (P/E 3). Jog: Add Automotive Stamping (a Tata group co. with a P/E of 4). Sri: Graphite India could see action! Worth at Rs 85. It is acquiring a company in Germany. Dax: Steel sector continues be promise after excellent first quarter results by most companies. Jog: I'm worried about inflation and rising oil prices. Dampener for market. :-( Kay: Book profit, then, if selling pressure is expected from Tuesday, assuming you made 20 per cent in July! TMO: Take my word. Sri: I'm waiting for judgment from the apex court in the Clariant and Wimco cases! :-| Jog: Cement despatch may spell surprise numbers. In automobile sales numbers, watch TVS. Kay: Even good numbers by auto cos might be tempered by the reality of rising fuel prices. Dax: What about subscriber additions in telecom space? I'm tuning in to check what's happening in Bharti. Hello, hello! * * * * *
Lee, with inputs from Vir, Jay and Nat.
Send in your views to: Chat@TheHindu.co.in.
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