Nifty likely to touch 6800 by October'13

1) In my view, Nifty over next 4 months (i.e. by around October'2013) is headed towards a new high of around 6800-7000.

2) It might well happen much earlier depending on onset/progress of Monsoon and further softening of interest rates by RBI.

3) Nifty progress to 6800-7000 may also be aided by likely further softening of Gold over next 4 months.

4) Final target of nifty in its journey into new territory is likely to be much higher than 6800-7000. But, it is difficult to predict the timing for the same.

Update on Umang Dairy

1)   Umang has declared dividend for financial year 2012-13 in its meeting held on 04.05.13.

2)   Below is a news item on Umang.  

           

"FnBnews - Thursday, May 09, 2013 08:00 IST 
Our Bureau, Mumbai

R C Periwal, director, Umang Dairies, observed, “Umang is in an expansion mode and during the financial year 2012-13 it enhanced capacity of its drying plant from 3 lakh litre per day to 4.5 lakh litre per day. In the backdrop of an overall depressed economic scenario, an increase of 16% in the top line and 17% in the bottom line is good performance. Umang is working on plans to expand its product portfolio and will launch some new products shortly. It is also exploring possibilities of acquisition of some existing dairy company having synergy with its product portfolio.”"

I have following observations on the above. Umang management is behaving like multinational companies. Distributing most of profits to its investors immediately after coming out of BIFR is like multinationals do. 

If Umang’s approach remains like this in future, I believe that Umang shall create wealth for itself and all its stakeholders and go on to become a leading dairy brand all over India. Umang shall become one of the best consumer stocks in days, months and years to come.