FinancialNirvana.com

My first day back from vacation and the market takes its biggest hit in six years.  Some of my high fliers such as Suntech Power (NYSE: STP) and FuelTech (Nasdaq: FTEK) have taken a big time beating.  Suntech Power has gotten the worst of it being a Chinese company.  What this downturn has done is made some quality stocks cheaper and more attractive.  I plan to either buy the following stocks or add to my position in the near future depending on the overall market conditions.

Here’s my list of Indian Stocks (in no particular order): 

• HDFC Bank (NYSE: HDB) and ICICI Bank (NYSE: IBN) are two of India’s largest private banks and have been on a tremendous run for a while now.  They have both taken a small hit not only due to the market downturn but also because of the Indian Budget which was just released.  After my recent visit to India I am convinced that this is one sector I definitely want to be part of during these booming times.  I am planning to write a separate column about my trip and the banking sector.   I recommended both of these stocks last May but for some odd reason didn’t but them myself.  Trust me, I am still kicking myself for it.   
• Infosys Technologies (Nasdaq: INFY): I don’t think Infosys needs any introduction.  Another stock that has taken a big hit this week. 

Click here to go to the original article

* Full Disclosure: I am long STP, FTEK, UA, AMSC.  I don’t have positions in BA, HDB, IBN, INFY or SIRF.

Share This

• Indian Stocks Week-over-Week Price Change - Week ending February 02, 2007
• Indian economy continues to grow at a blistering rate - 9.3% in 1Q
• Did I miss the buying opportunity in Indian Stocks last week?
• Tata Motors monthly sales volume growth slips further in September
• Out for the next two weeks