>MOMENTUM PICKS (INDIA INFOLINE)

15 MOMENTUM PICKS

In this note, we review performance of the 15 stocks recommended by us post the favourable election outcome on the morning of May 18,2009. The 15 stocks have delivered an average return (assuming equal weights) of 50% against 26% by BSE 200 (comparable Benchmark) since May 15th. Even after computing from May 18th (more cogent as markets freezed on thin volumes on that day), the average return of recommended stocks stood superior at 23% as compared to 8% delivered by BSE 200.

For continued outperformance in the near term especially up till the budget, we thought of weeding out stocks where upside seems capped post recent run-up and replacing them with companies where fundamentals and technicals warrants significant upside from here. Jain Irrigation, ICICI Bank Punj Lloyd Birla Corp and Shree Cement are stocks in which profit booking is recommended. Companies that we advise to add are Everest Kanto, Genus Power, ICSA, Sintex and United Phosphorus. These have been identified on the basis of growth visibility, healthy return ratios, high beta values and valuation comfort.

Stock list, Return & Recommendations given in this report

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