For someone like Jogin who knew only of omissions and commissions, Knowledge Commission that the PM has spoken of seemed new. Keeping that aside, he responded to the ping from Sridevi to join the market chat. Khan and Dakshinamoorthy were already online. Connect!
Kay: Hi everybody! Can we expect FM to treat the market
with kid gloves?
Sri: I'm sure he'd, because of the stunning collection
through securities tax. :-)
Jog: You thought only brokers collect commission? Now
knowledge's also in!
Dax: If you want gyan, let me tell you that chart patterns
sport an upward bias.
Sri: Right, close on Friday was strong. But mood is likely
to be cautious.
Kay: True, with the Budget too close, movements are
likely to be range-bound.
Dax: Nifty was sideways last week, but Friday ended
stronger. Has to break strong resistance at 2095.
Jog: I find bankers in portfolio investment cells keen on
reading the latest report of the US Senate Permanent
Subcommittee on Investigations that indicted KPMG. All
about abusive tax shelters.
Kay: Also, a leading FII that
operated here during post-
reform years. Our watchdog
bodies are asleep?
Sri: On www.multinationalmonitor.org
I was reading about
"The Ten Worst Corporations of
Dax: I'm upset it includes AIG,
with `deferred prosecution' on
the rise. It has a JV with
the Tatas. :-(
Jog: Apollo Hospitals was marked up sharply on Friday.
Harbinger of an announcement by company?
Sri: Can't say no, but I'm watching NOCIL, because good
results are possible. Is it raining, Kay?
Kay: Don't know from here, but Rain Calcining is on my
list. Working better with aluminium rub off.
Jog: I see a few more rupees in Jayaswal Neco. You know
HEG? It makes graphite.
Dax: Yeah, it's good for investment at current levels.
Action likely in Ispat, Morepen and FCGL Ind.
Kay: Mangalam Cement underwent turnaround last year,
and is poised for further growth.
Jog: Good long term investment. It has presence in Rajas
than, Bihar and UP.
Sri: Matrix Labs received close to Rs 100 crore on a patent
infringement suit; action likely.
Jog: Are you talking about the movies, Sri? It grossed
$1.6 billion! You saw Constantine?
Kay: I guess Jog spelt Crompton Greaves wrongly.
Upward move with its engineering bias.
Dax: Jindal Vjaynagar Steels is also seeing momentum.
Buying around current levels will pay.
Sri: Birla VXL is planning to enter garment
manufacturing under Digjam brand.
Jog: In December `04 quarter, it reduced its losses. Try it
for long-term with one year horizon.
Kay: SKF Bearings may continue to see action, after its
parent announced delist intention.
Jog: For those who lose on the markets, what's the advice,
Dax: "The loss which is unknown is no loss at all," said
Publilius Syrus. So, take heart and play!
Sri: Jog, "No man can lose what he never had," is an Izaak
Walton quote. Apply to knowledge, Jog.
Kay: Caution is the word, Jog. "There is a courageous
wisdom," said Edmund Burke. "There is also a false
reptile prudence, the result, not of caution, but of fear."
Do you understand?
Jog: Nope! Perhaps Kahlil Gibran was right: "Perplexity
is the beginning of knowledge."
Dax: Take care, everybody, of yourself and your money.
Don't burn it away before Budget!
* * * * *
Lee, with inputs from Vir, Nat, Ray, Mad and Sve.
Send in your views to: Chat@TheHindu.co.in.