SENSEX SLIDES 310 POINTS......

Written by HARIKRISHNAN.T
2 comments

Today I realize the power of Infosys in Indian economy.

Sensex slides 310 points on weak Infy notes.

Inflation figures also affected market in the negative way.

Infosys closed Rs.316 in red. 

Since Infosys is the giant in the IT field, long term investors can make investments in this range.

This results will not not affect Infosys future growth, I'm sure.

The wholesale price index (WPI) for the year rose to 8.98% in March as against 8.31% in February on higher fuel and manufactured product prices. 




MUTHOOT FINANCE IPO

Written by HARIKRISHNAN.T
2 comments

Gold financing company Muthoot Finance is set to tap the capital market with a public issue of 51.5 lakh equity shares of face value Rs 10 each on April 18. 

The issue will constitute 13.85% of the fully diluted post issue paid-up equity share capital of the company.

It is the largest gold financing company in India in terms of loan portfolio. 

It provides personal and business loans secured by gold jewellery, or gold loans, primarily to individuals.

Issue proceeds will be mainly used for augmenting capital base to meet future capital requirements to provide for funding of loans to customers. 

Issue will close on April 21.

ICICI Securities Limited, Kotak Mahindra Capital Company Limited and HDFC Bank Limited are the book running lead managers to the issue.( The lead merchant bankers appointed by the Issuer Company are referred to as the Book Running Lead Managers)

Regards Hari " लोका समस्ता सुखिनो भवन्तु "



BOOK PROFITS.......

Written by HARIKRISHNAN.T
1 comments

I don't know what is happening in the market for the past 2 weeks. A terrific come back from 17000 levels to 19000 levels.

I think it is the right time for booking profits.

Ever since Nifty futures started trading, ten consecutive higher closes have happened only on two occasions in the past. This is one of the important point which should be noted by investors. This particular sentiment will never support market long.

I think the 20,000 range is still a psychological level for the market, because the global conditions are not good.

So at least for the next 3 to 4 months market will be in the 17000-19000 range.

There is no logic for the markets to hold on at these levels other than liquidity factors because clearly oil will be a big issue going ahead.

I think the next correction in the market mainly depend on the crude oil price. I think if the crude oil price go beyond $120, then expect a correction.

The stocks that I advised 2 weeks ago all cross the target I specified. Dhanlaxmi bank, V-guard, IDBI bank, LIC HF, Essar oil etc. crossed their upper cut off.

I cant advise any stocks now for the short term point of view, because all my favorite stocks are selling at a higher range. So let a correction come, then I will advise my stocks for the next month.

Regards Hari " लोका समस्ता सुखिनो भवन्तु "