The Hindu Business Line : Of wisdom, gravity, profound conceit

Talkative, as always, Sridevi was phoning up her friends to check how much they’d gain when the new STD rates kicked in from March 1. Jogin was assembling data on strikes by airline staff, to find the total loss suffered. Dakshinamoorthy was studying the Income-Tax Act, to prepare himself for the Budget. Khan buzzed them all with a short message, “Chat-Oh!” **

Kay: Hi, all! Chart patterns suggest bullish trend.

Sri : In the near term, Kay, but…

Dax: A corrective phase appears imminent sooner than later.

Jog: Hmm…it’s becoming like weather report!

Sri : If liquidity flows are robust, corrective phase may get postponed.

Dax: Markets ended stronger on Friday. Means, bourses should rally.

Kay: Remember that market players predict choppy trade.

Jog: Shall we talk about 11K? :-)

Sri : Anything that rises must come down some time or the other!

Kay: “Shall reasons find of settled gravity,” as the Bard sings in a sonnet.

Jog: “Of wisdom, gravity, profound conceit,” in The Merchant of Venice!

Dax: Bush’s visit in March may create some flutter here.

Kay: Will be interesting to see how ‘stocks’ behave then.

Sri : About last week, anybody has the numbers?

Jog: Here. Alu Fluoride gained about 5 per cent on Feb 6. Guj NRE Coke was up about 4 per cent, while Reliance and TCS earned a profit of about 3 per cent last Monday. Cipla and L&T were up 2 per cent plus. Hotel Leela gained about 2 per cent at the beginning of last week. Kalptaru, M&M, HCL Tech and Tinplate earned a profit of about 1 per cent.

Kay: Coming to this week, there may be a price weakness in Cipla.

Sri : As the market may not be enthused by the bonus ratio?

Dax: In mid-cap pharma, I’m watching Orchid and Matrix Labs.

Kay: Likely to show upside as there is talk of big-ticket development.

Jog: A global generic major is said to be on the prowl. Grrr…

Sri : Simbhaoli Sugars may post gains!

Dax: There’s a probability of institutional investors taking a stake.

Jog: In momentum-based trading, Karuturi.com and Batliboi?

Kay: Could be roses all the way on the Karuturi Networks Ltd counter.

Sri : The company, which is more into floriculture, is expanding!

Jog: To Ethiopia. To access the European market for cut flower.

Kay: Karuturi is also moving its greenhouse facilities to that country.

Sri : The stock has been firming up for some time and could gain more.

Dax: Stocks of south-based cement firms may show a firm trend.

Jog: Centurion bank of Punjab is likely to continue its upward march.

Kay: Sugar stocks may post further gains…

Sri : As reports over the weekend indicate tighter supply situation.

Jog: Tea is what is inspiring the market at the moment.

Dax: “Inspire us with the spleen of fiery dragons!” King Richard III says!

Kay: Look at the Jayshree Teas and McLeod Russels of the world…

Jog: To know what’s happening? McLeod Russel pushing Rs 100.

Dax: Was in the Rs 65-70 range till recently for quite some time.

Kay: Prospects of tea auction centres running dry, drought conditions in Kenya, which could help the cause for Indian tea exports, higher price realisation by domestic producers...

Sri : Jayshree Tea, a Birla co, is actually ahead of many in the tea pack.

Jog: About Rs 170 at the moment. Volumes are pretty decent.

Kay: Apeejay Tea at Rs 105 or so, but certainly not Jayshree’s volumes.

Dax: In fact, trades are restricted severely by poor volumes.

Sri : Could well be a dark horse. Will tea be the next sugar?

Jog: Or, is it just a fad waiting to die a quick death?

Dax: Sterlite may post gains on bonus announcement.

Kay: Thought it could not move up much despite bonus and stock split news as the sentiment turned bearish for the metal stocks.

Dax: Metals lost shine globally. “Shines seldom in admiring eyes.”

Jog: “But rather drowsed,” as in King Henry IV.

Sri : Tata Steel, Madras Aluminium, SAIL and Hind Zinc reacted down sharply last week. The trend is likely to prevail for some time.

Dax: If HLL numbers are impressive, consumer stocks may get another round of re-rating.

Kay: TCS got Moody’s Baa1 rating for foreign currency debt.

Dax: Rating reflects TCS’s dominant position in the software industry.

Jog: Hikal Chemicals plans investments in R&D. Expect consolidation.

Kay: Around current levels before any big development takes place.

Sri : Reliance looks slightly firm on charts. May go up in the short term.

Dax: “The charm is firm and good,” as Second Witch says in Macbeth!

Kay: Let me remind, as did Hamlet, “Thrift, thrift, Horatio!” Bye.

Lee, with inputs from Nat, Mad, Nil, Sub, The and Sve.

Send in your views to: Chat@TheHindu.co.in.