Money Tree

We had recommended Carborundum Universal on 3rd May between Rs. 140 and Rs. 145 and today it touched Rs. 187 in the morning and currently is quoting at Rs. 168. The stock did not go below Rs. 140 which acted as a strong support as suggested at our site on the day of recommendation, it remained in the range of Rs. 141 to 147 and then started shooting up last week to reach a high of Rs. 187 today. We had set a short term target of Rs.180 for the stock which has been acheived today.

India Infoline up nearly 35 percent in a day at Rs. 609

As indicated by us in the morning India Infoline reacted to the news of hiring 4 top key personnel of CLSA and the stock moved up to Rs. 669 (up more than 40 percent) in the morning. Later the company made a disclosure that the key personnel have not brought any clients of CLSA along with them and the stock cooled off a bit and currently at 12.55 p.m the stock is trading at Rs. 609 about 36 percent up. The stock has made its all time high at Rs.669 today.

Stocks pulling NIFTY up

The markets have opened very strong in the morning as indicated by us in our morning post and have been very steady till now. The NIFTY is at 4280 nearly 33 points up and the Sensex is at 14491 nearly 152 points up. HDFC Bank is up 5.7 percent at Rs. 1130 and Jet Airways is up nearly 4 percent at Rs. 756, the two stocks are pulling the NIFTY up and other contributors are Gujrat Ambuja Cement up nearly 2 percent at Rs. 116.2, Reliance Communications up nearly 2.5 percent at Rs. 517, Hindustan Petroleum up nearly 2 percent at Rs. 285.20 and Bajaj Auto up 2.25 percent at Rs. 2219. Suzlon among the NIFTY stocks is dragging it down, the stock is down nearly 5.7 percent at Rs. 1297.