The global clues are poor to gain strength in our markets. At this juncture the Bulls are want of energy to take on the crippling indices to higher levels. As posted yester day the nifty took support at 2860 level but lost the momentum strength that built in the after noon to the inflation news that rose to 10.72% from 10.68% on weekly basis though is not a concern at this hour of credit crunch.
The statement from chairman of SBI that took a beating that the stressed assets may increase as NPAs in future is a clear sign of recession. The banking industry is the torchbearer of the bull move may now take sides for the Bears.
As per the reports, the bank of England has cut the rates by 150 bps to 3%, lowest in the last 50 years, shows the liquidity concern and the slowdown in growth. The markets shall take it as a positive step, in the long run will help the industry as the crude came to a very reasonable level where every body willing to pay for it.
The global markets are in deep red despite of many adequate measures announced by various governments to mitigate the financial crunch and mitigate the fears of slowdown. There was no solace to investors but the blue chips are at attractive valuations.
WITH DUE RESPECTS TO icharts.
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George Soros, international financier and billionaire investor, has invested Rs 32 crore in GVK Power. The stock is up nearly 66% from recent lows. So, what are the reasons for the huge soar in this stock?
George Soros is re-entering the stock and that to at a whopping discount of 70%, in August 2007. Quantum Fund which belongs to Soros, sold around 2.2 crore shares at Rs 53 per share and recently they bought back 2.1 crore shares at Rs 16 per share, thus re-entering at a discount of 70%. The stock has corrected at about 82% from its 52-week high and recently from a low of around Rs 10.6 per share has risen by about 66%.
George Soros is re-entering the stock and that to at a whopping discount of 70%, in August 2007. Quantum Fund which belongs to Soros, sold around 2.2 crore shares at Rs 53 per share and recently they bought back 2.1 crore shares at Rs 16 per share, thus re-entering at a discount of 70%. The stock has corrected at about 82% from its 52-week high and recently from a low of around Rs 10.6 per share has risen by about 66%.
On similar lines, an interesting deal happened in Suzlon as well, T Rowe Price has bought nearly 58 lakh shares on October 27 from the open market and now its holding in Suzlon has gone up to 5%.
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