Multibagger stocks (free tip to multiply your money) - 5th feb 2008
The Indian Stock Market today ended flat. The rally seen in the last 2-3 days seems to coming to an end . In the next few days we might see the market testing new lows as the global situation is still uncertain , particularly the subprime losses in U.S.A.. The midcap segment might see some more selloff. I expect the market to shed nearly 1500 pts. From here ( todays closing – 18664)
Some short term recommendations –
Sell Bajaj Hindustan @ 228 - target 205
Sell NTPC @ 223 - target 208
Sell Wipro @454 – target 433
Multibagger stock - Ritesh properties Ind. Ltd. (4th feb. 2008)
The company which was earlier into garment export has diversified into real estate and retail chain outlets . It has tied up with Ansal Infrastructure to develop a 800 cr. residential housing project in Ludhiana. It is also developing townships along with a U.S. based fund Beckman Helix , with a project cost of 3000 cr in and around Ludhiana, Jalandhar & Amritsar. In addition to this the company is foraying into retail chain outlets with an investment of 60 cr and plans to develop 100 stores by end of year 2008. All the benefits of above mentioned projects will start accruing in next quarter results. Benett & Coleman has picked up 8% stake in equity around dec. 2007. Current price is 84 , expected price in 2 yrs. is 300 .
Risk factors include the promoter’s inexperience in real estate & retail management . Further the promoters stake is only around 20% of the equity.
Cricket – India missed out an opportunity to gain 4 pts. from todays match. Dhoni played a captains knock , Gambhir is riding his luck nowadays and is making most out of it .It seems the aussies and srilankans are reluctant to catch him . Perhaps Pathan might be a good choice at no.4 as he is striking the ball well nowadays. One thing to note is India hasn’t got a good 5th bowler, if one of the bowler is spanked over the ground then wonder what Dhoni might do . So it wont be a bad idea if Praveen Kumar is played in place of a batsman . what do u think ?
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