Dear Investors,
After five quarters of tremendous pain we had one quarter of phenomenal pleasure. Mid caps, small caps, Larges caps, junk stocks, blue chips all went up. The only thing that has not yet gone up is the Investor’s confidence. On the other hand the only things that has not yet gone down is the skepticism. Well, it is an 0ld stock market adage that Bull markets climb a wall of worry and let’s see if this bull climbs one.
The common advice in the market is now that stocks have gone up one should be stock specific since everything will not move. But markets have always remained stock specific unless you were buying index funds which in any case have performed better then 99% of the Indian Mfs since March 2009.
The Equity Desk XI: The practice of making intermittent changes in the Ted XI have been stopped from now on we will only make changes at the end of the quarter. This quarter we introduce two companies Voltamp Transformer and Thermax and replace them with ENIL and Axis Bank !There is a provision of introducing one more consumer company in the TED XI and I shall do so after meeting the management later this month.
Now this quarter’s TED report card looks strange with Voltamp at the top but that is by default rather then design. The price at which I recommended Voltamp is being taken as the recommended price whereas for Thermax we are taking the price as the one where the discussion was initially started (Rs 690 ) rather then at Rs 160 when we got hot on this one. But these are cyclical services and one needs to play them with care because they cut badly when the trend changes.
Voltamp Transformer and Thermax are being moved into the Emerging companies section.
Stocks in maroon belong to The Equity Desk XI.
Regards,
Basant Maheshwari
Edited by basant - 04/Jul/2009 at 3:09pm
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