Hope emerges

Another day of fall for the markets. There seems to be some hope that the fall might get arrested at least for now.Globally, indications are that both France and Germany are serious about resolving the Greek crisis quickly. There has been some reshuffle in the Greek cabinet ostensibly to infuse rejuvenated crisis handling.
Much of the fear in the market is due to equating the Greek crisis with the American sub prime crisis. This may not be the case. It should be possible to ensure stability of the euro and prevent the contagion. After all other European nations have not been as profligate.

Stock Idea: Alstom Projects.
The stock had come in the news recently after it was reported in a TV channel that it was getting delisted. Reason - Alstom would be creating a 50:50 joint venture with Shanghai Electric for making boilers for coal fired power plants. The company promptly denied the delisting part. The stock therefore see sawed for a while. Delisting news sends the price through the roof as promoters usually do it at a premiun.
Delisting or not this stock is expected to go places. Company sources say the proposed JV will be world leader in it's field. Even though the boiler unit might be wound out of India, the inevitable restructuring would benefit the Indian arm. Besides the company has posted decent Q1 results. At around Rs 550 the stock is attractive.
Disclosure : I hold the stock in my portfolio.