NIFTY TO TOUCH 7700 LEVEL

Stock markets yesterday across the globe closed in positive territory. Tata Motor's superlative Q1 numbers will give big boost to markets in the early trade. Delivery percentage in select NIFTY stocks also indicate strong upward movement.  Domestic funds are net buyers in cash market in the last 2-3 trading sessions. All these factors  may help the benchmark indices open higher. NIFTY is likely to test 7700 level in today's trade.  

RELIANCE JIO FUND RAISING PROGRAMME

Reliance Jio Infocomm is planning to raise Rs 9000 crores in the overseas market to take advantage of lower interest rates. Recently Tata Steel raised Rs 6000 crores overseas. 

The funds so raised will be used to retire its costly debt and to roll out telecom and data services. Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high

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BUY FACEBOOK AT $20 A SHARE 

Facebook IPO was irrationally priced at $38 a share. The fair value would have been around $20 a share. FB made a disastrous debut in the exchange and losing ground continuously. There are investors, IPO and open market who have put in money at $38 a share waiting for an opportunity to exit. They may exit eventually at a loss. That may put the stock under pressure further. That time would be ideal time to invest in FB stock and wait for 3-4 quarter results.  Facebook is profitable, it keeps its nearly one billion users logged in every day and stays there longer than in any other Internet site. FB is aggressively experimenting with new ways to drum up advertising — its main source of revenue. FB may also open up its site to on line gaming in countries where it is legally permitted. Around $20 a share, down ward risk is limited. One can invest for short to medium term, for decent returns.

Facebook is now trading around $ 76 a piece. It has appreciated 380%in two years.