* Orient Abrasives is one of the largest manufacturers of abrasive grains. After the sale of its grinding wheel division to Grindwell Norton, the company has set up a lignite based thermal power plant which has substantially reduced the production costs. Buy at current levels for steady long term gains.
* Greaves Cotton has started selling engines for mini-trucks marking its entry into the fast growing four-wheeler light cargo carrier segment. The company already has good presence in power generation, agro equipment, light engines and infrastructure equipment. Buy for target price of Rs 600 in the medium term.
* Midcap and smallcap cement counters look good for the short term ahead of Q2 results. Among the south ones suggested for buying are Mysore, Sagar, KCP and Deccan. Buy on declines Binani Cements, JK Lakshmi and Prism. Despite extended monsoon across the country, Q2 numbers are expected to be good on better offtake numbers and firm prices.
* Select counters like IFGL Refractories, Ennore Foundries, Tata Sponge, Jyoti Structures, Solar Explosives, Torrent Power and Jindal Drilling are on the radar of savvy market players. Belonging to Hinduja group, Ennore Foundries is witnessing renewed buying interest. Short-term target of Rs 325 is touted.
With capex of the steel industry on upswing IFGL is witnessing a surge in its order book. Buy on declines for target price of Rs 100. Strong buying interest in power ancillary stocks is evident in transmission structures players like Torrent Power and Jyoti Structures.
Buy Jyoti for a short-term target of Rs 300 tip punters. As seen in other oil exploration stocks Jindal Drilling is also witnessing quiet accumulation. Jindal Drilling is considered "chota" Aban Offshore, say industry sources.
C. Kutumba Rao is a Hyderabad-based stock market analyst. The views expressed and the reco-mmendations made are th-ose of the author. Readers are strongly recommended to consult their financial advisors before making any financial investments. This newspaper is not liable for investment decisions made on the basis of recommendations in these columns.