IFCI has already decided to recover 2000 crores of NPAs each year and provisions have already been made to achieve such targets.

Rest we may hear the news of Malvika steel sale during the meet and i would not be surprised if IFCI decides to generate money by various other means. ........Quite possible.

lets see what do they have this time in their kitty...................?

harish sharma...

LIC stake alignment from 11.39 % to 8.39% is on the agenda of AGM meet on 12th Sept 2008 for shareholders approval.( kindly check the news of LIC too that has been asked by the GOI to reduce thier stake in every company they hold to below 10%.)

Rest the OCDs decision will be taken by the GOI as and when they decides to do so.

harish sharma...

After breaking support of 0 crude may touch 87.50 but chances are quite weak...

IFCI is silent nowadays and i personally feel that something will surely comeout in the near term for sure at this counter.

Something is really cooking on as it was quite resilient at 42 level while the market took a dip last week. It did not went down inspite of all blues.

we can expect some good news may be on 12th AGM meet this month.

harish sharma...

Dear Nagabull,

Problem with indian investors is that though they do understand the fundamentals and in general agree with all what we tell them , BUT still they have a fixed mindset with FMPs (Fixed money plans ) only.

They can wait for years just to see the interest of 10 % in thier pass books but cannot wait for 1-2 years with a real Bluechip in the market.

Problem is the trust they have not yet gained in the market after seeing lots of scams and as you know India is full of scams.

One has to really have some sort of patience to become a millionair in the real life.

Investors who can HOLD will always make GOLD.

regds

harish sharma ...

Dear Nagabull, Hello to all of you,

I would addon few more fundamentals like NFCL OIL Refinery in the next 2 years as you are already aware of.

and secondly NFCL is exploring UREA plants in Nigeria too for Which DOF has already agreed to buy more than 50% of Production.

And above all the huge Land at Kakinada that can be utilised for various purposes.

regds

harish sharma...

Dear Karhikn, In the present context my call is based on technicals only.

Fundamentally we all need some good news on this counter and i can expect only the news of Malvika steel sale which is long awaited by all of us.

Rest LIC stake would be aligned on 12th Sept in the AGM meet of shareholders and OCDs decision with GOI may take little more time to decide by GOI itself.

Above 2 factors are the key to stake sale in IFCI , rest is formality.

Since i always play bullish on IFCI, I never give a sell call. Therefore at 41-42 level one can enter IFCI and can book Profits as i recommended.

Longterm i am bullish on IFCI and i believe it is worth a GOLD to HOLD.


harish sharma
Delhi....

harishkrsharma,you are very right,if ifci is able to recover 2000cr every year then i feel it will be the most strongest stock in financial sector coz they have already made 100%provisioning for NPAS and MALVIKA STEEL will be a big achievement in a single account The stock may go beyond 75 in the short term...

Dear Sharmaji Some long term investors I know have lost heavily in the stock market. Their capitals have been eroded nearly 100-200 percent. They lament..... Had they lodged their funds in fixed deposits they would have been happier lot. The growth story of India is intact and will certainly make new developments etc. But the stock market has been way ahead of this growth and retreats inadvertantly. The momentum stocks like Nagarjuna, ifci, ispat etc have given good bank balances for short term investors and traders. Sometimes back some analysts were talking about 700 target for ifci and so on. Lured by high figures long term investors jump into the market to try their luck and get stuck. It is not to say the targets can not be achieved. May or may not. As some one said stock market is not for all. SAIL was written off. Whoever thought SAIL ..once upon a time 6 made it to 250 or so. Hfcl .. once upon a time ruling around 2500.. and even some brokers have given their analysis and recommendations to buy with targets of 3000 etc. Now it trades around 15. Mangalm Timber a Birla co ... also has same story. The other day I read in MC that Reliance and L&T are just worth at 600 or so and dont deserve such high valuations. Any way each analyst has his own reasons and views. Gone were the days where one can acquire Nag,ifci and ispat etc around 10 and wait for appreciation. I think they have reached their bottom levels and any surge upwards totally dependent on great thrust in the market. The propulsion will be by the smart players . Just want to share my thoughts. No contradictions with your views. ad ...

What makes u think IFCI mgt would discuss abt LIC stake and Govt\\`s OCD\\`s? Is it in the agenda? Can u pls clarify...

Dear Harishji,Thanks for your information. I don\\`t Know why the people are interested in trading for the price movement of Rs.3-4 in this Bluechip. Just imagine this company is available at market cap of only 1800 Crore considering the share price of NFCL @ Rs.40/-. Since the promotor\\`s holding is just 35%. Any Big Group can acquire 40% out of Floating stock of 65% at the consideration of only 750 Crore. Just imagine At the consideration of only 700-750 Crore, anybody can become the largest stake holder in a company like NFCL. So,sooner or later the share price of NFCL will shoot up and take it\\`s position in the price band of Rs.150/- to 200/-. As per my estimates the topline and Bottom line of NFCL will start Galloping once RIL Gas starts flowing into it. With approx. 800 Acre of free land available at KAKINADA, they will surely go for vertical integration. I am expecting a revenue Fig.of around 4500 Crore and net profit of 1000-1250 Crore during F.Y 2010-11.By that time,Refinary will be in the final stage. so with E.P.S of Rs.20/ to 25/- ,NOCL in sight and future expansion at the existing Kakinada site.The share price of NFCL will be approx.Rs.400/- to 500/-. By 2012 one can expect NFCL to cross 1000/- .A real growth story to come up in next 4 to 5 years. Regards ...

Dear Harish'ji, Thanks a ton for your very open n honest reply. I too will think abt taking a postion at 41 levels.. From the past few sessions what i have inferred by following IFCI is that selling is not aggressive at all..So the sellers are holding their brakes..which is one positive thing[a meager 1% fall on a very bearish day like this is the proof for that]. Regards...

Dear Harish'ji, Could you please explain the reasoning that has gone behind this prediction of yours. It will be of great help to the fellow boarders if you could tell the premises underwhich IFCI can be propelled to meet the targets 1 and 2. Regards...

i have bought this stock @ 343. when can i see this going to 350+ levels again ?? ...