Well, the markets sure are representing a roller-coaster ride - up by 60 points one day and down by 570 points the other day! It's a yo-yo ride and it's more down than up - and isn't that the most scary part? Going down, the earth rushes to meet you and embrace and then suddenly you are yanked and now you are going up, all the while knowing that the next turn is going to send you hurtling down once again! Ha ha, enjoy the ride guys! As I’ve mentioned earlier, it’s a great time to build your portfolio with a long-term view of at least 2-3 years.
I liked the positive steps taken by the management of DLF to boost its share price – the stock had slumped to a low of Rs. 350/- after touching a high of Rs. 1225/- a few months earlier.. The company had announced the decision to buyback shares at a price of Rs. 600/- per share.. It sure does represent a good premium to the current stock price and should boost the company’s share price in the near-term. Also, with DLF being the giant in the infrastructure place, one may expect the sentiments in the infrastructure to improve going forward.
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