Reliance gains 4.5%; buy or sell?
Choksey said he was largely positive on Reliance. “I think Rs 2,125 is a level which is extremely important and if you see this particular level crossing and closing above this level of Reliance would indicate a new participation into the market. Technically the stock should be moving in the direction of more than Rs 2,300 levels over a period of time.”
Balakrishnan too sees an upside in the stock. He said, “I like the stock despite all the disputes and everything. I think there are a lot of negatives in the price and I think the positives have not yet been factored in. So, if there is a resolution, whichever way, I think this stock should do much better. If we are talking about a recovery in oil and commodity prices, I think Reliance would be a natural beneficiary.”
Adani Power or NHPC?
Choksey said, “I don’t know whether to compare both of them but going forward both these companies are likely to give better returns to investors those holding for little longer period of time and definitely its going to test the patience. NHPC and Adani both are in same situation if you want to look at from the short-term point of view; NHPC definitely would have some amount of dent into the number of units’ power sold in this particular quarter because of the lower production. Adani has 3,330 megawatts to talk about nothing more than that. So from that perspective the numbers are not going to be different for the quarter ending September and for NHPC also it’s going to be on lower side. I would say those who are holding on for two years and above they may get an opportunity in a nervous market; they may accumulate and buy more in this company - maybe FY11 would be the right time for those who want to time the marke
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