Buy reliance industries: This is one of the stock that is not reached its potential.
Target Rs.1070
Sell bank stocks
Sell software stocks: increase in value of rupee and future business growth at cross roads make us to think to sell off software stocks and wait for good days
Steel and cement stocks appear to be good to buy.
East india hotels Good buy at Rs.138/- Target rs: 150 AGM is on 23.09.2010 (tomorrow)and right issue will be announced which may be around Rs.100.There appears to be competition between many companies to acquire shares.So reap the harvest.
Story: Oberoi family owns 32.3% in EIH.ITC holds 14.9%. Reliance industries purchased most of 14.8% stake from oberai family at the rate of Rs.184/- per share. Now tomorrow EIH will be offering rights in AGM.There may be an understanding between reliance and ITC that the latter will not subscribe to the rights issue and renounce in favour of reliance industries. This will automatically drive reliance industries to give open offer of 20% to shareholders of EIH. This is market rumour and appears to be genuine.
If any FI corner certain % of stocks, it can bargain with reliance industries.
currency : Buy doller rs. Oct 2010. present price : Rs.45.76 target Rs.46.50
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