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One headline which anyone who might have been tracking the electronic me
dia would not have missed would be one of Reliance industries buying stake in ei
ther of X Y or Z Ltd. The problem with Indian electronic media is that it hasnt
seen companies having huge idle cash in there balance sheets. As far as Reliance
is concerned I believe it is one of the smartest companies in India with 4-5 bl
n$ of cash invested in bank Fixed deposits and at the same time the company has
some outstanding overseas ECB which needs lower interest payments.
The question remains which companies would Reliance Industries invest it
s spare cash. I believe that expecting Reliance to invest in any listed Indian c
ompany at current valuations is a mistake. Seeing his business acumen,one can ex
pect him to continue making investments in Shale( Not STALE) gas fields and at t
he same time selective strategic investments in unlisted growing companies in In
dia. If the problem with RIL is one of plenty rest assured Mr Ambani knows how t
o manage it well.
Someone can ask what about the harmonious relationship created between t
he two brothers as stated by a section of media in an African safari. The scrapp
ing of the non compete agreement for a naive market watcher like me seems to be
a necessity for both brothers.Perhaps the urgency was more for RIL as the BWA sp
ectrum was a one time affair and the timing of the announcement tend to suggest
that it especially drafted for the same.
Going ahead I dont expect Mr Ambani to either buy strategic stakes in Fo
rtis or in Pipavav shipyards( Again being reported by a section of speculative e
lectronic press.) RIL has suggested that it will create sustainable power genera
tion capacities. Perhaps this seems to be the next round of forward integration
for the company. capturing the value from Gas to Power.(The entire value chain)
Now coming to the other sibling who is busy in demerging SBU from RCOM(
Again reported by media and filings in the stock exchange) it seems that the day
is not far when RCOM will demerge its Calling and Call Receiving divisions alon
g with Reliance Infratel,Reliance Big Tv,Reliance Infocom,Reliance Global optic
division and what?
These kind of demergers make me remember of Teledata informatics. God he
lp the shareholder of the company who after two years are still awaiting the rel
isting of one of the demerged shipping divisions.
The news globally which can affect Indian markets is that China might un
peg yuan from USD in 2010. The affect of the same would be visible in India.
Keep a watch on IDBI BANK.Stock seems attractive post capital infusion.
Major support now is at 5022.Minor positional support is at 5171.(Closin
g basis)
Indian Rupee:USD in yesterdays trading session and closed at 46.20 level
s post initial weakness.
Keep a tab on FII buy figures.On Friday the FII Segment was a net buy at
779 crs.In the month of June itself Fii's have pumped in 2900 crores.
Medium term trend turns down below 5022.
Refer to the stock wise report at http://stockrumours.blogspot.com/ For
Intra stock views.
TSR published two long term reports in last one month.One of the stock**
*******(Recommended at 37 cmp 59.70) is a chennai based nse listed steel maker w
ith operations in Tamil Nadu,Pondicherry,Jharkhand and Srilanka.The other Jyoti
Ltd was also shared with the free members via google group and trial sms servers
.Make sure you get a copy .email at contact@niftyviews.com
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