Sharekhan top picks

Top Picks [June 01, 2010]  Sharekhan www.sharekhan.com

Summary of Contents   SHAREKHAN TOP PICKS Sharekhan top picks Equity markets across the globe continued to trade weak in May 2010 as worries emanating from the Euro zone continued to weigh heavy on investor sentiment. And the Indian markets were no exception. During the period May 07-June 01, 2010, where the Sensex and Nifty shed 1.2% and 1% respectively, our recommended portfolio of top picks continued to outperform these benchmark indices delivering a return of 2.2%. For the first two months of FY2011 (April-May) also, where the Sensex and Nifty logged in losses of 6.3% and 6.1% respectively our portfolio of top picks delivered cumulative gains of 3.5%. During the month we recommended booking profits in Indian Hotels Company as its stock price moved above our price target. Among the top picks that delivered maximum returns for the month were the fast moving consumer goods (FMCG) major ITC that topped the basket with 9.2% returns and Indian Hotels Company which delivered returns of 8%. During the month we brought in Gayatri Projects, a mid-cap infrastructure play, to replace Indian Hotels Company. For June we are making one addition to our basket of top picks?that of Corporation Bank, based on its attractive valuations, comfortable asset quality and anticipated improvement in its net interest margin (NIM). As equity markets continue to remain volatile we stick to our advise of having partial cash in the kitty to take advantage of the good opportunities that may come along in the current market conditions.   Click here to read report: Sharekhan Top Picks   Regards, The Sharekhan Research Team myaccount@sharekhan.com