Buy Binani cements: Rs.81 Target Rs.85
Since equity base is reduced due to buy back offer and consequentially its EPS has increased and also hardening of cement price invite us to invest in this stock at this price.
Buy Moser Bayer:
price Rs.65 Target Rs.68:
Dividend is due within a week. So anyone wants taxfree income can purchase moser bayer.
Buy IFCI:(Rs.60/-)
Govt is going to appoint one advisor for suggestions for improvement in IFCI and also give recommendations for making it as a bank. He has to submit the report within Dec10. So investor can buy for a short term target of Rs.70/- and a long term target of Rs.100/-.
Buy steel stocks
There are talks going on for increasing price of flat steel by Oct 2010.
Also Prices of domestic galvanised steel products are likely to rise by another Rs 500-1,000 per tonne over the next two-months on the back of a growing demand and rise in input prices, Uttam Galva Steel said today.
"As compared to the global markets, domestic prices are very low. Hence, we expect prices here to increase by Rs 500-1,000 per tonne over the next two-months. This is due to the rise in zinc prices as also in domestic demand," Uttam Galva Steel's Director (Commercial), Ankit Miglani, told reporters after the company's annual general meeting here.
News item in business standared.
Sell Textile, leather stocks:
News item states:
Govt slashes duty refund rates for exports by up to 30%
NEW DELHI: In a set back to exporters in sectors like leather, textiles and sports, the government on Saturday decided to reduce duty drawbacks - tax refund - by up to 30 per cent.
The new rates will be effective from September 20, the Central Board of Excise and Customs (CBEC) said in a notification.
Duty drawback - refund of import duties on raw materials used in exports - for cotton garments has been reduced to 7.5 per cent against the present rate of 8.8 per cent.
For blended garments - containing cotton and manmade fibre, the revised drawback rate is 8.6 per cent, down from 9.8 per cent.
“The drawback rates have been determined on the basis of certain broad parameters, like the prevailing prices of inputs...and the incidence of service tax,” the CBEC said.
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