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

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.

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(This article was published in the Business Line print edition dated February 14, 2005)
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