Some stuff that I am reading today morning:
Could this be the simplest trading strategy in the world? (Moneybeat)
Investors check into hotel stocks (ET)
Know the risks when picking debt funds (Mint)
A dozen midcaps to bet on (BS)
ONGC charges RIL with ‘theft’ of natural gas (FirstBiz)
Snake Oil Salesmen (Prashant)
Why Modi matters (JerusalemPost)
Value Vs the Market (Greenbackd)
The true value of macro forecasting for value investors (II)
Mandate for Modi:A business agenda (Wharton)
* CIMB Raises Nifty target to 8,150
* BofA-ML raises Sensex target to 27,000
* BNP Paribas raises Sensex target to 28,000
* Citi raises Sensex Dec target to 26,300
* Macquarie raises Nifty target to 8,400
* Deutsche Bank raises Sensex target to 28,000
* CLSA raises India weightage by 2%
* Nomura raises Sensex target to 27,200
* UBS raises Nifty Dec target to 8,000
* ICICI Securities sets Nifty target of 8,100
* Religare raises Sensex target to 27,000
* Goldman Sachs Raises Nifty target to 8,300
(Hat Tip Haresh Nagpal)
I find it interesting that in this bull market, one prominent stock making new lows is Nestle India.
Nestle India trades at high valuations-around 40 Times FY 2013 (Jan-Dec) EPS of 115 Rs.
Their profits for 31 March,2014 showed a drop of 7%.
The market didn’t like this one bit-a growth stock is supposed to keep growing.And hence the stock price is getting whacked.
Am reminded of Hindustan Lever-it sat out the entire bull run of 2004-2008 as it was expensively priced to begin with.
