DISH TV CAN BE BOUGHT AT CURRENT LAVEL FOR A SHORT TERM TARGET OF 100+ MEDIA WILL BE IN LIMELIGHT AND THIS SCRIPT IS IN DOWN TREND SINCE TWO MONTHS....AFTER A GAP OF 1 ONTH SAR INDICATORS ARE GIVING BUY SIGNAL
DISCLOSER:-I'M HOLDING THIS SCRIPT
Read more!
Sterlite Industries can be a good bet for investment at every decline. The company owns 65% 0f Hindustan zinc limited and almost half of BALCO. In all likelihood it will aquire the minority stakes in these two. With its own copper smelting capacity along with Hindalco making up for 80% of the copper market share one can invest in STERILTE INDUSTRIES with a target of 800 to 850 within a year. ( City group global has released a detail research report for the same) All the best. Read more!
WEDNESDAY CAPITA TELEFOLIO RECOMMENDATION
Infrastructure Development and Finance Corporation
Proxy on Indian infrastructure opportunity
Splurge in infrastructure investments in India will throw up number of fund-based and especially non-fund-based opportunities and the company is well-placed to capitalise on the same
Buy
Infrastructure Development and Finance Corporation
BSE Code
532659
NSE Code
IDFC
Bloomberg
IDFC@IN
Reuter
IDFC.BO
52-week High/Low
Rs 138 / Rs 53
Current Price
Rs 127 (as on 1st August 2007)
Infrastructure Development and Finance Corporation (IDFC) was established in 1997 as a private sector enterprise by a consortium of public and private investors and is a leading NBFC specialized in infrastructure finance in India. The company has a well-managed team of professionals with international and national experience from diverse professional backgrounds at the helm of affairs.
A specialised intermediary in infrastructure financing
IDFC is positioned as a specialised intermediary in infrastructure financing, not only providing project finance but also arranging and facilitating the flow of private capital to infrastructure development by creating appropriate structures and financing vehicles for a wide range of market participants. The financial institution offers fund-based products including senior debt financing in the form of loans, debentures and securitised debt. It undertakes subordinated debt, preference capital and equity financing through proprietary investments in unlisted equity as well as public offers of infrastructure companies. It also offers non-fund-based products such as guarantees, debt syndication & advisory services on project and financial structuring.
The Company's goal is to become the most profitable, most innovative, most influential and largest multi-product financier for the development of infrastructure in the country.
The company’s main focus is Transport, Energy, Telecommunication and IT, and Industrial and Commercial infrastructure.
Strong relationships
Thus, IDFC's strategy has been tuned to driving both the size of the asset book as well as returns on investments. The Company strives to use its extensive domain knowledge to become a 'one-stop-shop' for infrastructure financing. In the process, IDFC has built strong relationships with the sponsors of infrastructure projects by working closely with clients - right from the pre-bidding stage to project commissioning. It's expertise and innovative ability enables the Company to continuously expand its range of products, and to participate in the more profitable parts of the capital structure of any infrastructure project like debt syndication, structured financing and equity participation.
The company’s established relationship with the central government (which holds around 20% equity stake) gives it access to decision makers, which will help in playing a significant role in the direction of infrastructure policy in the country and keep a few steps ahead of competition (mainly from banks). In fact banks are tieing up with IDFC to identify, assess and finance infrastructure projects.
Asset Management business has tremendous growth potential
IDFC is actively engaged in mobilising and managing third party funds for long-term equity investments in infrastructure. Though IDFC Private Equity Company Limited ('IDFC Private Equity'), a wholly owned subsidiary of IDFC, aims to secure attractive returns by providing equity-based risk capital to early stage and rapidly growing infrastructure focused companies. It is the investment manager of two funds - the India Development Fund (IDF-I) and the India Development Fund- II (IDF-II), with a combined asset under management (AUM) of US$ 650 million. US$ 200 million that was raised under IDF-I in 2002-03 has been fully committed; while 30 per cent of US$ 450 million raised under IDF-II in FY 2005-06 had been committed as of March 31, 2007. Between the two, they form the largest corpus among the dedicated private equity funds focused on Indian infrastructure. Going forward, IDFC Private Equity will be looking to raise a third fund in FY 2007-08.
In addition, IDFC Project Equity Company Limited ('IDFC Project Equity') was set up in 2006-07 to manage the proposed USD 2 billion third party equity component of the 'India Infrastructure Initiative'. This fund would be a very significant step forward to IDFC's asset management business. It would allow IDFC to invest equity capital at the level of individual infrastructure assets such as individual road projects, power plants and port concessions, in addition to investing in companies that develop infrastructure through its various private equity funds. Going forward, the Company is also keen to leverage its extensive knowledge base to advise offshore and domestic funds on investments in public limited companies in the Indian infrastructure space. The Company is also exploring opportunities made available in the Union Budget 2007-08, which permits mutual funds to launch and operate dedicated infrastructure funds.
The company’s tie-up with Citigroup, Blackstone and India Infrastructure Finance Company (IIFCL) for deploying US$5 bn into infrastructure projects in India has significantly improved the visibility for fee income streams. Out of total expected funds of US$5 bn, the equity component of US$2 bn will be managed by IDFC and the debt component of US$3 bn (to be raised by IIFCL) is being appraised by IDFC.
After good FY 2007, consolidated business sees strong growth in first quarter
For the quarter ended June 2007, IDFC’s consolidated income from operations surged by 80% to Rs 609.63 crore. However interest expense surged by 89% to Rs 311.15 crore. Further its other expense rose by 271% to Rs 48.58 crore. Thus the operating profit growth was constrained to 55% amounting to Rs 249.97 crore. The provisions & contingencies surged from Rs (–0.25) crore in quarter ended Jun ’06 to Rs 6.32 crore in quarter ended Jun ’07. The depreciation cost rose by 18% to Rs 1.18 crore. Thus the PBT stood at Rs 242.27 crore, up by 51%. Further the tax provisions rose by 95% to Rs 58.19 crore. Thus the Net Profit (before profit of Associates and adjustment for Minority Interest) rose by 40% to Rs 184.28 crore. On accounting Share of profit of Associates that rose by 350% to Rs 0.18 crore and minority interest that surged from Rs 0.10 crore quarter ended Jun ’06 to Rs 3.48 crore quarter ended Jun ’07, the PAT after minority interest stood at Rs 180.98 crore, up by 38%.
The consolidated financial results are of Infrastructure Development Finance Company Limited and its subsidiaries - Feedback First Urban Infrastructure Development Company Limited, IDFC Investment Advisors Limited, IDFC Private Equity Company Limited, IDFC Project Equity Company Limited, IDFC Trustee Company Limited & S. S. Kantilal Ishwarlal Securities Private Limited and its proportionate share in joint ventures and other investee companies, where applicable.
Its gross approvals grew by 57% to Rs 4157 crore for 40 projects. Its gross disbursements grew by 83% to Rs 2444 crore for 54 projects.
For FY 07, on consolidated basis, its total income increased by 52% to Rs 1571.29 crore. Interest expenses increased by 71% to Rs 855.46 crore and operating profits increased by 32% to Rs 638.11 crore. Finally net profits increased by 29% to Rs 503.92 crore.
Clean asset book
It has a very clean asset book. As of June 2007, NPAs as a percentage of net advances were 0%. The zero NPA reflects better quality of assets and prudent NPA coverage on part of the company.
Its leverage ratio has increased from 4.6 times to 5.7 times and the return on equity stood at 19% during June 2007 quarter.
In Q1 FY 2008, Its balance sheet size has grown by 50% to Rs 20,673 crore and loan book size increased by 30% to approx Rs 15000 crore. Equity book rose by 155% to Rs 1573 crore.
Equity issuance will help building critical mass
IDFC will be aided by its recent capital issuance on QIP basis (US$500 million). One of the constraints on the bank’s ability to increase its loan book had been single-party limits – while its tier 1 ratio is high, at 16.1%, its actual capital is low, at Rs 2900 crore (US$700 mn). IDFC cannot lend more than 20% of its net worth to a single borrower (even if it is for different infrastructure projects). Hence, it was hitting a barrier to lending to large infrastructure players. The equity issuance has increased IDFC’s current net worth by almost 70%, thereby increasing lending limits for single but high quality borrowers. This should enable IDFC to keep expanding its loan book significantly and will be EPS accretive.
Investments in non-listed entities also offers good upside
IDFC has certain good strategic investments which provides additional upside. It has 3,690,847shares of NSE bought at Rs 92 crore, which should be worth much more. It now controls 67% in SSKI, SSKI is a privately held domestic corporate finance and institutional securities company based in Mumbai. Through this investment, IDFC and SSKI propose to work together by pooling their relationships and expertise to provide investment banking and capital markets solutions especially to infrastructure clients.
Will continue to attract premium valuations
In FY 2008, we expect the company to register total income of Rs 2573.66 crore and net profit of Rs 705.85 crore. On fully diluted equity of Rs 1294.04 crore and face value of Rs 10 per share, EPS works out to Rs 5.5. The share price trades at Rs 127. P/E works out to 23.3. IDFC’s FY 2008 book value is expected to touch Rs 43, which is discounted 3 times by the current price.
IDFC is an early-cycle play on Indian infrastructure, just as Indian private-sector banks were early-cycle plays on Indian retail banking in the late 1990s or early 2000s. Just as banks like HDFC had always been looking expensive but still gave phenomenal returns in the past due to their ability to capitalise on the tremendous opportunity in retail banking, IDFC is well placed to make most of the infrastructure opportunity unfolding in India (US$ 475 billion to be invested in the next 5 years).
Infrastructure Development and Finance Corporation: Financials
Particulars
0503(12)
0603(12)
0703(12)
0803 (12P)
Income from operations
733.05
1034.69
1566.06
2573.66
Other Income
9.02
2.09
5.23
1.53
Total Income
742.07
1036.78
1571.29
2575.19
Interest Expenses
311.91
500.79
855.46
1451.51
Other expenses
30.67
50.76
77.72
151.96
Operating Profit
399.49
485.23
638.11
971.72
Provisions and Contingencies
64.82
38.75
17.50
24.07
Depreciation
4.00
3.86
4.42
5.22
Profit before tax
330.67
442.62
616.19
942.44
Tax Provision
21.32
51.69
124.10
212.18
Net profit
309.35
390.93
492.09
730.25
Add: Associate's profits
-0.04
0.00
11.83
14.33
Less: Minority int.
0.00
0.17
0.00
10.44
Profit after Tax
309.31
390.76
503.92
705.85
EPS*(Rs)
2.8
3.0
3.9
5.5
*Annualized on fully diluted equity of Rs 1294.04 crore;
(P): Projections
Face Value of Rs 10
Figures in Rs crore
Source: Capitaline Corporate Databases
Infrastructure Development and Finance Corporation: Results
0706 (3)
0606 (3)
Var. (%)
0703 (12)
0603 (12)
Var. (%)
Income from Operations
609.63
338.54
80
1566.06
1034.69
51
Other inc.
0.07
0.63
-89
5.23
2.09
150
Total income
609.70
339.17
80
1571.29
1036.78
52
Interest Expenses
311.15
164.33
89
855.46
500.79
71
Other Expenses
48.58
13.11
271
77.72
50.76
53
Operating profit
249.97
161.73
55
638.11
485.23
32
Prov. & Contengencies
6.32
-0.25
LP
17.50
38.75
-55
Dep.
1.18
1.00
18
4.42
3.86
15
Profit Before Tax
242.47
160.98
51
616.19
442.62
39
Provision for Tax
58.19
29.77
95
124.10
51.69
140
PAT before assoc. profit & MI
184.28
131.21
40
492.09
390.93
26
Add: Associate's profits
0.18
0.04
350
11.83
0.00
0
Less: Minority int.
3.48
0.10
999
0.00
0.17
-100
Profit after Tax
180.98
131.15
38
503.92
390.76
29
EPS*(Rs)
5.6
4.1
3.9
3.0
*Annualized on fully diluted equity of Rs 1294.04 crore;
(P): Projections
Face Value of Rs 10
Figures in Rs crore
Source: Capitaline Corporate Databases
Read more!
ABG Shipyard
(TICKER: 532682)
A stock market veteran is very positive on ABG Shipyard, enaged in ship building and ship repair activities. According to him any discernible investor should have the scrip in his portfolio with long term perspective .The stock is currently trading at Rs 526 with PE of 23.1 with book value of Rs 84.23.The stock should be accumulated at every decline, opines the veteran.
(FV Rs10,H/L Rs 538/199, CMP Rs 526)
Prime Securities
(TICKER: 530017)
A research analyst with a large FII is recommending Prime Securities, for short to medium term investment. The broking and investment banking sector which has got lots of buzz with international players looking to establish their presence in India and existing ones keen to expand, is ripe with takeover and M&A news. Prime is one of the established players in this field. The company has reported a 20% rise in earnings for the quarter ended June, 2007, to Rs 10.5 crore from Rs 8.8 crore in the same quarter last year. According to the analyst, this script would be a good bet for short and medium term.
( FV Rs 10, H/L Rs102/33.5, CMP Rs 80.65)
Bilpower
(TICKER: 513023)
A Mumbai-based equity analyst is recommending the Bilpower for investment. This is a leading power engineering company in India. For this year, it has come out with great numbers, reporting has reported sales of Rs 245.8 crore in FY07, indicating a spurt from 95.21% from the FY06 sales of Rs 126 crore. The PAT for FY07 was also substantially higher at Rs 17.6 crore as against Rs 10.97 crore, showing a growth of 60 %. The EPS for the year was Rs 19.6 (18.3 per cent). The stock is attractively priced as compared to its peers with its PE ratio of 9.90 times. The analyst is betting on the scrip for medium to long term.
( FV Rs 10,H/L Rs 247/61.5, CMP Rs184.85)
Sangam India
(TICKER: 514234)
A leading fund management house is recommending Sangam India. It is the market leader in the Indian PV yarn segment with a market share of 20%. The company is expected to grow at a fast clip in near future. It has created fresh capacity and added value added products, which fetch better margins. For FY07, the company has clocked sales of Rs 555 crore and net profit of Rs 27 crore versus sales of Rs 363 crore and profit of Rs 24.6 crore in FY 06.The stock should be added to ones portfolio as per the fund house view.
(FV Rs 10, H/L Rs 101/ 55.3, CMP Rs 56.25)
OM Metal Infraprojects
(TICKER CODE: 531092)
A well-admired old bull who has now settled in Mumbai after operating for several years in North India, is rumored to have bet big on this counter. The counter is also attracting attention of many FII’s; the limit for FII investment was hit earlier this year. The company is mulling increasing this in the near future. Recently it has secured an order for executing hydro mechanical works for Parbati HE project (stage-III) & Chamera HE project (stage-III) valued at approximately Rs 1,62 crore from National Hydroelectric Power Corporation. The bull is very confident and is advising his associates to bet big on this counter.
(FV Rs 1, H/L Rs 75/ 34.1, CMP Rs 52.8)
Bharat Bijlee
(TICKER CODE: 503960)
According to a Kolkata bull Bharat Bijlee counter should be a market outperformer for the coming year. The company has been performing really well with one of the best returns among the peer group on RONW basis. For the fiscal 2007, it had earned a net profit of Rs 56 crore on a sales turnover of Rs 470 crore. Its book value was Rs 205 (face value Rs 10) and RONW 52 per cent. Another attractive feature in a small equity base-just Rs 5.65 crore with a significant promoter holding.
(FV Rs 10, H/L Rs 2496/ 830 , CMP Rs 2339)
Cable Corporation
(TICKER CODE: 500077)
Knowledgeable market sources strongly recommended Cable Corporation of India, originally promoted by Siemens, Khataus and Thakerseys. Also an old market hand is of the view that this company, which was down in the dumps with its share price reflecting it, has again generated a buzz with story of its revival doing rounds. Also as with many old companies these days, there is news of priceless land in the company’s possession. The old punter is of the view that those with appetite can buy the stock for multiple returns.
(FV Rs 10, H/L Rs 67.8/1.68, CMP Rs 35.05)
Read more!
RAJESH’S PORTFOLIO CHOICE DT:30TH JULY 2007
EIMCO ELECON (INDIA)
Mining money
BSE ticker code 523708
NSE ticker code EIMCOELECO
Major activity Engg.–Material handling
Managing Director P M Patel
Equity capital Rs 5.77 crore
52 week high/low Rs 417 / Rs 220
CMP Rs 379
Mkt Capitalisation Rs 218.68 crore
Recommendation Buy
EIMCO ELECON (INDIA) (Eimco Elecon) was incorporated in 1974 as a joint venture between Tamrock OY, Finland (25% equity stake) and Elecon Engineering Company, India, and its associates (47%). It produces a wide range of underground mining machinery.The scrip is worth a look by investors.
Just consider:
Eimco enjoys an overwhelming lead in the manufacture and supply of mining and tunneling machines for the metalliferous, coal and civil tunneling industries and sub-surface construction projects. The coal mining industry is expected to see major improvement going forward. Demand supply gap currently is envisaged to be huge. The hike in coal prices and a sharp rise in coal demand are expected to trigger increased investment in the coal mining industry in the coming years.
The current per capita commercial primary energy consumption in India is about 350 kgoe/year. Driven by the rising population, expanding economy and a quest for improved quality of life, energy usage in India is expected to rise around 450 kg/year in 2010. Considering the limited reserve potentiality of petroleum & natural gas, eco-conservation restriction on hydel project and geo-political perception of nuclear power, coal will continue to occupy centre-stage of India’s energy scenario.
The projected demand for coal is expected to reach 730.10 MT by 2011-2012 the last year of the XIth five year plan. However, the production is likely to fall short of demand at 680MT, registering a compound annual growth of 9.47%, according to official data. The government is considering the possibilities of granting infrastructure status to the coal sector it the XIth plan. To give a boost in investment in coal mining, the sector is also likely to get tax holidays and duty exemptions.
Eimco Elecon is adding various state-of-the-art mining equipments such as continuous miners, face & roof drills, coal haulers, 160mm & 250mm self propelled crawler mounted blast hole drills to enhance production of coal to meet demand of future. It is expected that the new products would result in increased business commensurate with the growth of related segment.
In June 2007 quarter, the company registered sales growth of 58% to Rs 33.13 crore. PAT shot up by 43% to Rs 4.09 crore. This indicated that the company has entered a new growth orbit. In FY 2008 we expect t he company to register sales of Rs 150 crore. The net profit is projected at Rs 16.44 crore. EOS would thus stand at Rs 28.5. The share price trades at Rs 379. P/E comes to just 14.0. In FY 2009, the company can register EPS of Rs 41.3. P/E on FY 2009 EPS comes to just 9.7. By 2008, book value will be near Rs 190-mark, making it ripe for a bonus issue especially when the business has turned very buoyant for the company. This can turn out to be a very good medium and long-term bet.
TAYO ROLLS
Rolling growth
BSE ticker code 504961
NSE ticker code Not listed
Major activity Casting – Steel / alloy
Chairman A N Singh
Equity capital Rs 5.47 crore
52 week high/low Rs 263 / Rs 92
CMP Rs 233
Mkt Capitalisation Rs 127.45 crore
Recommendation Buy
TAYO ROLLS (Tayo), the erstwhile Tata Yodogawa, was promoted in the year 1968 by Tata Steel Limited and Yodogawa Steel Works & Nissho Iwai Corporation (now Sojitz Corporation) of Japan, for the manufacture of rolls with a capacity of 7,800 tonnes. This scrip should be considered by investors for ones portfolio as long term investment.
Just consider:
The steel industry is the key user industry for the company’s rolls. Expected sustained growth in demand for steel in Asia especially in China and India, has enthused all key manufacturers and almost all steel players are expanding their capacities. Increased investment in steel rolling mills ensures sustained growth prospects for the company.
With the anticipated growth in infrastructure sector, Indian steel majors are in the process of substantial expansion by adding additional capacity as well as announcing green field projects. The availability of resources and lower cost of making steel has prompted international steel majors to announce their investment plans in India. Taking into consideration the significant development, the total steel making capacity of the country is expected to touch 110 million tonnes by 2020. A significant aspect of these developments, is exponential growth expected in the Eastern India, within the close proximity of the company.
The company has embarked on a modernisation-cum- expansion programme involving an outlay of Rs 38 crore over a period of three years (by FY 2007-08). The expansion programme envisages phased increase in the roll making capacity from the present level of 12,500 t. per annum to 17,000 t. per annum by 2007-08. This expansion-cum-modernisation programme is being done by installing a roll grinding machine and a gas-fired heat treatment furnace. The backward integration of mini blast furnace will result in reduced energy cost by using liquid metal for captive roll making. The company is chalking out its plan for using the excess pig iron available after captive consumption. The company is exploring various options including putting up facilities for the manufacture of forged rolls, and other engineering forgings / castings.
The company aspires to be Rs 500 crore plus turnover corporate entity by 2010, through accelerated growth with global mindset, strategic alliances/diversificatuion and low cost quality product and services. Last year, its sales had expanded from Rs 158 crore to Rs 186 crore and the net profit from Rs 6.15 crore to Rs 10.63 crore, pushing up the EPS from Rs 11.2 to Rs 19.4.
For the fiscal year 2008, we expect the company to register sales and net profit of Rs 245 crore and Rs 12.96 crore respectively. EPS would works out to around Rs 21. The share price trades at Rs 233. P/E works out to just 9.8. Investors can add this scrip to their portfolio for handsome returns.
DENSO INDIA
Electric start
BSE ticker code 520022
NSE ticker code Not listed
Major activity Auro Ancillary - Elect.
Managing Director H Hirahata
Equity capital Rs 27.88 crore
52 week high/low Rs 118 / Rs 67
CMP Rs 86
Mkt Capitalisation Rs 239.77 crore
Recommendation Buy
DENSO INDIA (DIL) (formerly Nippondenso India), is a Joint venture of three Japanese companies Denso Corp., Asmo and Sumitomo Corp, engaged in the manufacture of automotive electrical equipments.The scrip is worth a look by investors .
Just consider:
The Indian economy is set to grow at the rate of 8-9% for the next few years. This coupled with better infrastructure, the demand for passenger cars as well as two wheelers shall continue to register good demand for the company’s products. The reduction in excise duty on small cars affected in the budget will also accelerate the growth in the car industry. Easy financing, favorable demographics (a relatively young population), increasing mid and high-income group has emerged as an important driver of demand for automobiles in India. This is going to help the sector like auto ancillaries in large way.
With most two-wheelers using Capacitor Discharge Ignition (CDI), Denso with about 35% of its revenues coming from CDI and Magneto, would continue to remain a preferred supplier of ignition systems to most of the two-wheeler companies. The company can benefit from the fact that India’s largest car manufacturer Maruti Udyog, that has 46% market share, is a major client of DIL. Notably passenger car accounts for 65% of DIL’s total sales. Some of its other clients include Hero Honda, Bajaj Auto, Swaraj Mazda, Escorts, Toyoto Kirloskar, Tata Motors, Hindustan Motor, Eicher and Greaves.
The parent company Denso Corporation, headquartered in Japan is one of the leading international player in the field. It is looking to raise its production capacity in the country to take advantage of low production cost & high engineering skills. This will benefit the Indian operations, with possibility of parent increasing its stake.
For the quarter ended March 2007, DIL registered an 18% rise in its revenues to Rs 119.58 crore. Even on higher base of 16.3%, OPM was up by a good 60 basis points to 16.9%. operating profit thus went up by 22% to Rs 20.19 crore. Higher other income and lower depreciation and interest free status saw its pre-tax profit going up by 36% to Rs 19.74 crore. As provision for taxation (including deferred tax) rose 22% to Rs 7.16 crore, the profit at net level jumped 46% to Rs 12.58 crore. The robust March 2007 quarter performance saw its FY 2007 sales up by 17% (to Rs 421 crore) and the pre-tax profit going up by 32% to Rs 44.02 crore. The net profit was up 32% to Rs 27.66 crore.
For FY 2008, we expect DIL to register sales and net profit of Rs 480 crore and Rs 35 crore. On an equity of Rs 27.88 crore and face value of Rs 10 per share, EPS works to Rs 12.6. As the share price trades at Rs 86, the P/E works out to just 6.9. At these attractive valuations, the scrip should be considered for investment.
Read more!
"(Those) who are concentrating on banking remember one thing ---anything less than reducing rates will attract selling!!! ( msg received during market hours on 30-07-2007 from rish-trader Read more!
SENSEX GAVE TriStar BEARISH PATTERN The market has probably been in an uptrend for a long time. With the trend starting to show
weakness, bodies probably are becoming smaller. The first Doji would cause considerable
concern. The second Doji would indicate that there was no direction left in the market. Finally,
the third Doji would put the last nail in the coffin of the trend. This is essentially because this
pattern indicates too much indecision, and everyone with any conviction would be reversing
positions.
The Bearish Tri Star pattern is very rare, but when it occurs it has significant top reversal pattern. A fourth day confirmation in the form of a large black candlestick is recommended to show that the actual uptrend has reversed.
look for confirmation in next few days and decide your strategy with vigorous stopplosses in positions taken for short term
Read more!
ONE CAN BUY PRITHVI EVEN IN FALLING MARKET 295 LOOKS LIKE GOOD SUPPORT ITS SHOWING GOOD UP MOVE FIRST TARGET 340 REST ALL BONUS
DISCLOSER:-I AM HOLDING THIS FOR A TARGET OF 340
Read more!
