East India hotels Buy (Rs.140/-) Target Rs.160/-.
Buy as per my previous recommendation
Buy L&T and BHEL
Today cabinet committee will decide about imposing duty on imported power equipment. The imported power equipments from China is cheaper by nearly 15% over domestic price. In order to bridge the gap and to award contracts for mega and super mega power projects in India, cabinet may favour levy of
a 10 per cent Custom duty and 4 per cent Special Additional Duty.(initial plan) This planned levy may be diluted in favour of 5 per cent Customs duty, 10 per cent countervailing duty and 4 per cent SAD on import of equipment for mega and ultra mega power projects
Buy reliance industries: Rs.1002/-Target Rs.1025/-.
Oil price will increase and growth potential is good for future due to shale gas company purchases.
Steel stocks and cement stocks: Buy . Good one as monsoon is over and construction activities are building up.
Software stocks: As usual, sell them now and wait for good time to enter. Expected growth may not materialise.
Bank stocks: overvalued. Anytime it will shatter.IFCI can be purchased as per my previous recommendation.
Buy dollar/rs currency at Rs.45.85 Oct10 futures.
It appears that nothining significant will happen in India on coming Friday though Babri Masjid court verdict by High court will come on that day. The aggrieved party will go to supreme court. Some minor incidents may happen.
No comments:
Post a Comment