The Hindu Business Line : <I>Kaale megha, kaale megha paani to barsaao </I>

It's been raining, not just cats and dogs, but elephants and giraffes. Undaunted, Sridevi, Jogin, Khan and Dakshinamoorthy plot their strategies over a weekend chat. Take cover!

Sri: Inflation worries me. It's spooking the markets.

Jog: True, there're no near-term catalyst in sight,

markets could remain range-bound with a negative bias,

and so open weak.

Kay: Kaale megha, kaale megha paani to barsaao.

Dax: I heard it as paisa to barsaao! :-)

Sri: Bijuri ki talwar nahin, boondhoon ke baan chalaao. I

like the song!

Jog: Good, you're dancing, I

can see, like the markets. LOL

Dax: I don't mean to be crude

but crude price movements

could impact market

movement.

Kay: ONGC would be a

beneficiary. Sentiment on

refining and marketing

companies such as IOC, BPCL

and HPCL could be lukewarm.

Playing markets is risky,

please note, everybody!

Sri: Let me add some sugar to your discussion. Sugar

stocks could take a breather.

Jog: Yes, they have been on a relentless run. See what

happened on Friday. Watch Balrampur Chini,

Bannari Amman Sugars and Bajaj Hindusthan.

Kay: Steel stocks are likely to remain firm due to the good

position of market players in this sector stocks. Ditto with

textile stocks.

Sri: I'm thrilled by biotech stocks! See these are moving

up sharply: Kolar Biotech, Sunline Technology, Gujarat

Themis Bioscience, Medicamen Biotech

Kay: Sri, I know your excitement as a science student. All

these stocks have moved sharply in the last one month.

Better avoid these stocks. Risky. No strong credentials.

JMO

Jog: Can you guess why I'm watching Polyplex? The

company's Thailand subsidiary is planning an IPO.

Valuation is around $150 million, $30 million debt.

Looks +ve.

Dax: The stock has already moved from Rs 110 levels to

around Rs 150. IC what UC, Jog.

Kay: Teatime, folks. Goodricke and Tata Tea want to sell

some of their tea estates, in North Bengal, I learn from

reading tealeaves.

Sri: Not the right time, my Tarot cards say! Good price for

transfer of majority shares is tough.

Jog: I found this behind a tea bush - a note that talks of

sudden hiving off of Darjeeling Tea Estates to Toubro

Infotech. I didn't like the flavour. :-(

Kay: Come off from the bush, Jog! Reliance Industrial

Infrastructure, any idea anybody?

Dax: Old name Chembur Patalganga Pipeline. It's

witnessing increased volumes and price. May start

making pipes. Let me pipe in some music: Ghanana ghan

ghanana ghan ghanana ghan...

* * * * *

Lee, with inputs from Vir, Ray and Nat.

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