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Monday, February 18, 2008

Reliance Power ADAG announced Bonus…….. gives market relly upside

When we selected R Power at 360 we knew the stock was underperforming by at least 45% due to sheer bear attack and we were not surprised when ADAG announced bonus which saw stock climbing to Rs 420. I think very soon it will cross Rs 450 the IPO price because now the IPO allottee’s generally loyal shareholders of ADAG will stop selling R Power whereas the bears are caught on wrong foot. Short covering is imminent once it crosses IPO price. It is also expected to freeze few takeovers of power plants to reach the 28K MW size sooner than anticipated. ADAG gr is known for this and hence the stock price which was looking very vulnerable at 350 will look smart and rosy at 750 also. Please cut and paste this. R Com was recommended in this column below Rs 200 in June 2006 which then went on Rs 800 plus with lot of value unlocking stories.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 16
20:00 EIA Crude Oil Stocks Change 1 0.515M 0.400M 2.553M
20:00 BoC Press Conference 3
21:30 Fed's Hammack speech 2
22:30 20-Year Bond Auction 1 4.810% 4.632%
23:00 Fed's Chair Powell speech 3
Thursday, Apr 17
01:30 Total Net TIC Flows 1 $-48.8B
01:30 Net Long-Term TIC Flows 1 $35.2B $-45.2B
04:15 Consumer Price Index (YoY) 3 2.3% 2.2%
04:15 Consumer Price Index (QoQ) 3 0.7% 0.5%
04:30 Fed's Schmid speech 2
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