The Hindu Business Line : You stand in coldest expectation

Will it be a dream Budget, dreamed Jogin. Meanwhile, Sridevi was studying more about bird flu, and Khan was updating his M&A database with the week's announcements. But Dakshinamoorthy remembered to bring them all around for the weekly market chat. Join the gappa!

Dax: Hi, all. Chart patterns suggest a weak trend.

Jog: Markets showed range-bound movements during the last two sessions.

Sri: Traders are wary ahead of Budget.

Dax: "I come to her in white, and cry `mum;' she cries `budget;'...

Jog: "And by that we know one another," as in Merry Wives of Windsor!

Sri: "You stand in coldest expectation," says Lancaster in King Henry IV.

Kay: If the Budget turned out to be `extraordinary'...

Jog: The market would rally from here on. Otherwise...

Sri: I expect the markets to move down lower.

Dax: Everyone is speaking about peaking!

Kay: What are the mutual funds going to do with money from new schemes?

Sri: FIIs still hold the key. They're the main drivers.

Jog: If Budget encourages putting money in bank...

Kay: FDs and other bank instruments?

Sri: Can then see fresh buying interest in bank counters!

Dax: What about last week?

Jog: I have the numbers. William Mago climbed almost 5 per cent last Monday, closely followed by Ashok Ley, McLeod, Bom Burmah and Dhunseri Tea. Dr. Reddy's and HLL earned about 3 per cent on February 20, while Cipla and Goodricke made 2 per cent plus.

Sri: How are things this week?

Kay: Zee Telefilms may decline as cricket telecast rights have gone to Sahara One.

Dax: Construction and engineering sector stocks may be marked up ahead of the Budget.

Jog: I expect companies such as Kirloskar Bros, Kirloskar Oil Engines, IVRCL and Jain Irrigation to gain. You know why?

Sri: Irrigation, water supply, and drainage services!

Kay: Indifferent earnings performance may lead to weak trend in Thomas Cook.

Dax: Areva T&D may rule firm on investment indication.

Jog: Brokers predict that CESC going at 270.55 has a target of 300-310!

Kay: Sintex Industries (182.55) has an upward target of 215. JMO

Sri: Some action is also expected in REL, with a target of 660-700.

Dax: Bird flu has taken its toll on hotels and hatcheries stocks.

Jog: Venky's, they say, is an attractive buy for the long term.

Sri: After taking a beating, Liberty Shoes got going on Friday.

Kay: Bhushan Steel going good. Still a buying favourite.

Dax: Heard Garware Shipping is for investment?

Jog: NTPC, kya vichaar?

Sri: Large-cap stock, rising fast on the bourses. Now at Rs 130 or so, having made it upwards from the Rs 120 levels in the recent past.

Kay: Will go far, say marketmen, who also refer to its growing significance in the market cap rankings.

Dax: SREI Infrastructure, one newly-minted infrastructure company!

Jog: Talking about recent name-change? In the Rs 60-65 range for far too long.

Kay: Stocks of so many of the so-called infrastructure outfits have done well!

Sri: Wockhardt has suddenly spurted in the last one or two days.

Jog: Following reports of acquisition?

Kay: Fallen to sub-Rs 500 level. Now at around Rs 515.

Dax: "Oft expectation fails and most oft there where most it promises... "

Jog: "And oft it hits where hope is coldest and despair most fits."

Sri: All's Well That Ends Well! Bye...

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

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