Wednesday, March 26, 2008

Indian Stock Market News, Analysts Picks, Views, Tips and Recommendations - 27 March 2008

First up, the Indian Markets should be opening lower since US had closed marginally lower yesterday. Other markets have also opened lower.

Gujarat NRE Coke:
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The one stock I am watching recently is Gujarat NRE Coke. I have been seeing it move between ranges for sometime now. So my target was to buy it at 110 or below. It did reach 103 on 24th March after dropping 20% of its value in a day. I waited a day to see how it moves but I was taken by surprise when it jumped 20% on 25th March and by another 12% on 26th March. I dont quite get the reason why it should such exaggerated movements unless somebody is making it move so. Now, its beyond my price range and I guess I will have to wait for a month or two to get into the stock.

Reliance Inds decides to shut down 2/3 of its Petrol Pumps
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The news item that caught my eye today was the decision by Reliance Inds to shut down 2/3rd of its petrol pumps. This drastic decision was taken against the Government's decision not to provide subsidy to private operators. This makes the Government run companies to sell petrol cheaper compared to the private operators. If this is going to happen for real then we got to see how it affects Reliance Inds bottom line but since Reliance claim that they are actually running losses due to the higher prices they charge this infact should improve their bottom line.

We got to wait and watch if Reliance will follow up on its threat for real or its just a threat to get Government do something!

Proud day for an Indian Company
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Tata's have finally closed out the deal to buy Jaguar and Land Rover. What a proud moment it is for being an Indian!

Analysts Views
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Abbott Ind, Merck, Wyeth to rally 35% more: LKP
Gbl cues, results key to mkts trading forward: Edelweiss
Not a rosy picture from macro angle: SCMF
Sensex can touch 17k: Experts
Brokerage stocks to see poor Q4 earnings
Positive on PSU banks: Centrum Cap
Brokerage Picks and Recommendations
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Karvy + Tata Chemicals Buy Mar 26, 08 418.00
Prabhudas Lilladher + XL Telecom & Energy Buy Mar 26, 08 400.00
Hem Sec + Chennai Petro. Buy Mar 26, 08 348.00
Prabhudas Lilladher + Nagarjuna Constr Buy Mar 26, 08 297.00
Emaky research + Thomas Cook (I) Buy Mar 26, 08 115.00

RK
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