Kirloskar Ferrous - this counter is a beneficiary of the ferrous metals industry seeing improved prospects and is also witnessing an improvement in it's fundamental performance. The company intends to raise it's borrowing limits by Rs 100 crs and use it to augment working capital requirements as well as pre-pay expensive debts. This dual pronged strategy is likely to show in the balance sheet after atleast 2 quarters - that makes this investment a medium term play.

Your call of  action - We recommend buying the scrip for delivery based investors ( derivatives are not available on the counter ) at the 13 - 14 levels, with a room for averaging upto the 9 levels. Keep a stop loss at the 8 levels and expect a price of 22 - 25 in six months time.

Mastershares - this counter was recommended by us at the 10.25 levels and profit taking was recommended at the 11. 25 levels in May 2003. That recommendation proved highly profitable as approximately 10 % profits were booked in under a months time. Last fortnight, this counter was recommended again and has seen superlative appreciation. As the markets rally, the NAV of this scrip will also surge, leading to a price appreciation. What makes this scrip attractive is the low price and a limited downside. Any investor looking for percentage returns on capital invested should not miss this counter.

Your  call  of  action - We recommend buying the  scrip for delivery based investors at lower levels of 12.25 and keep room for averaging upto 12.10. Maintain a stop loss at the 11.85 and a profit target of 13.50 - 14 in a good market. Since derivatives are not available on this counter, this is a pure delivery play. Now fresh investments will be for patient investors as a significant upmove has already occurred.