The Hindu Business Line : As you fear shadows, there's light shining somewhere

Not knowing if Monday would rise to witness a `spine-tingling climax' or an abject surrender, when the second Test finishes in Chepauk, Khan bowls chat-lines on markets to his friends Jogin, Sridevi and Dakshinamoorthy. Hang on till the bails are on.

Kay: The week would be full of Q2 results.

Jog: I doubt if index heavyweights will announce now. So,

I see no impact.

Sri: Hi, everybody. Market seems to have peaked in the

short term.

Dax: True, some selling is possible this week. Crude

concerns are not over.

Jog: Tech space, especially Satyam, could remain firm.

Cement could surprise.

Sri: ONGC would benefit from crude spiral. Negative

for oil marketing.

Kay: That's right, they're hit by the decision not to raise

petrol prices.

Jog: As Jonathan Santos said, "Never fear shadows," `cos

"there is a light shining somewhere".

Kay: I see action coming up in mid-cap. Results for most

of the companies could be good.

Sri: But that got factored in the

rise of stock price over the last

one month. Further rise

unlikely.

Dax: So investors sitting on

profits should exit. If you want

to buy, wait. Enter later. In my

opinion.

Kay: Cotton spinning mills

seem to be caught in some sort

of web. Cotton prices are

falling but huge yarn stocks

burden them. Plus, they have cotton bought at high prices.

Jog: Yarn and cloth buyers are adopting a wait-and-watch

policy. Problem for some big mills.

Sri: Dishman Pharma could see some action. It signed a

first-of-its-kind receivables securitisation!

Dax: Tea industry appears to operate on the front foot.

Mujnai Estate is getting alive in Dooars!

Jog: Cuppa cheereth? But I heard `boom' when somebody

said Bhushan Steel. Politically right?

Sri: Quiet. Let's talk something sweet. Say, EID Parry.

Sugar boom plus huge real estate!

Kay: A hidden asset, that is. Heard there's FII interest

stirred up. Now, if you want to think high...

Jog: I know, you're going to talk about Mount Everest

Mineral Water. FIIs have taken 11 per cent.

Dax: But, wait! Stock price has not moved. A takeover

target for Coke, Pepsi, HLL or Nestle?

Sri: Outcome of Balaji Telefilms board meeting will be out

before the market opens.

Jog: If they announce dividend of Rs 15-16 then I'd take

position for upside of around Rs 20.

Dax: Else, I'd wait for some time, as stock price will be

down and one can accumulate at lower level.

Kay: Open offer at Rs 90 by Star TV will come, so the

possibility of loss in the stock is minimum.

Sri: Let me warn everybody: There's a lot of risk in

making money. :-)

Dax: Sri, did you say, there's a lot of money in taking risk?

Jog: Hey, don't confuse everybody. She said, it is less

risky not to make any money, right?

* * * * *

Lee, with inputs from Vir, Nat, Sub, Ray and Sve.

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