AFTER TWO DAYS OF DELUGE (LAST THURSDAY AND FRIDAY) THE MARKET WAS FINALLY IN THE GREEN YESTERDAY ,THOUGH BY JUST A FEW. MANY FEEL THAT THE CORRECTION WAS DUE AND WE MIGHT HAVE JUST SEEN OFF THE WORST.
THE MARKET WAS PULLED BACK BY MOSTLY TWO BIG EVENTS YESTERDAY
(30TH OF JUNE)
1.RELIANCE ENERGY BAGGED THE SASAN POWER PROJECT .
THE SASAN PROJECT WAS IN THE CENTRE OF CONTROVERSY THIS WEEK DUE TO THE DISQUALIFICATION OF LANCO WHO WAS THE LOWEST BIDDER FOR PER KILO WATT OF POWER.THE COMPANY WAS LEFT RED IN THE FACE AND SO SPLASHED THEIR BID FOR THE SAME ALL OVER THE NATIONAL NEWS-PAPERS.
RELIANCE ENERGY BEING FROM THE RELIANCE PACK IS PERFORMING QUITE WELL AND MAY BE THE STOCK TO LOOK OUT FOR.
2.THE SECOND MAJOR EVENT WAS HINDUSTAN UNILEVER LTD i:e HUL (FORMERLY HINDUSTAN LEVER LTD) DECLARING A BUY BACK OF ABOUT ONE CRORE SHARES.
THE BUY BACK PRICE WAS FIXED AT Rs 230/- PER SHARE,WHILE THE SHARE WAS AT AROUND Rs 198/- ON THE WEEKEND.
THE PROCEEDINGS GENERATED A HECTIC BUYING SCHEDULE FROM INVESTORS WHICH MADE THE STOCK GO UP BY ALMOST 6%
EVEN THOUGH YOUR SHARES MAY NOT GO FOR Rs 230/- THERES A FAIR CHANCE OF THEM TOUCHING RS 220/- THUS GENERATING YOU PROFITS.
SHORT SELLING HULs SHARES CAN PROVIDE YOU SOME QUICK BUCKS IN THE COMING WEEK OR SO.
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