it will keep buying these stocks defying the gravity of 60 pes and 70 pes because now it does not matter what the pe is you want those stocks and you want to hold it irrespective of what result comes in the quarter advt so even if you have a bad result i doubt any of the diehards are going to sell those stocks maybe a few thousand shares for a day or two but rest will come and buy the stocks we are clearly seeing lack of supply in the market of good quality stocks people who are holding are holding it firm and institutional holding is now 8085 plus for most stocks of top 20 names leaving very little credence to a market trading in terms of delivery and insurance companies will keep adding up the corpus is going up so where will the delivery come from from these shares it seems there is a rush towards the government papers maybe saudi aramco is looking at buying a government stake in bpcl though the talks may be at a very nascent stage irctc papers made a stellar debut do these prized government possessions make for a wise prudent investment callof course during the last budget we spoke about psu stocks earlier it was a case of choice to sell or not to sell given our current scenario there is no choice the government has to sell and it is doing whatever it takes to find a way to sell them look at what has happened to air india they are going to warehouse rs 45000 crore debt and pay it from whatever resources they got to hand over a clean airline the market and investors have to realise that it is now no more a question of if it is a question of when will they do itthe last gambit of tax cut has played out in a very different way hindustan lever increased the dividend and that money is not going to come back into the system for capex or any further growth of the economy the only way to plug this gap and to build some corpus for development of infrastructure is sell the psus and these are dirt cheap these are dirt cheap stocks resource companies like nalco and nmdc are available dirt cheap even oil companies given the infrastructure they are not so expensive maybe bpcl has run up a little bit further but it is in the zone where the buyer will pay much higher than what the price is today by and large it is so cheap that you really cannot go wrong if these companies are sold number two they have exhausted their ability to pay dividends and the governments old model of taking dividend is not going to be valid anymore most of them are down to bare minimum in terms of cash reserves and profitability the only option is to sell and if you sell them they are very