With all the nefarious activities of the so called new
bull now being now being made public, there is ample evidence to nail the manangements
of several companies who have worked hand in glove with this market manipulator to ramp
their stock prices. It would, thus, only be right to send these management personae too to
the slammer where they belong along with their one time benefactor from the market.
Else, this whole exercise of having
discovered these manipulative market practices would be rendered redundant. Furthermore,
such an action might pave the way for a cleaner and more transparent future market, albeit
in the long term. For now though, there is no escaping from the extreme pessimism that has
enveloped the Indian bourses.
Bull operators, if there are any left, that
is, willing to take a punt could consider taking up long positions at the counters of BHEL
at Rs.121 (square up at Rs.129) and Dr. Reddys Labs at Rs.964 (square up at Rs.991).
Bear operators could consider taking up short
positions at the counters of Zee Telefilms at Rs.124 (cover up at Rs.101) and Reliance
Petroleum at Rs. 49 (cover up at Rs.42).
The dark horse portfolio pick of this week is
Opto Circuits whose monopoly status in a niche segment could help it become an
outperformer during FY 2001-02 .
(Ashok Kumar heads Lotus Strategic Consultants,
Mumbai. While due care has been taken to prepare this report, readers are advised to take
specific investment advice before taking any investment decisions.)