Buy Calls
Buy Corporation Bank – Target 805
CMP: Rs 439 Target: Rs 805 Corporation Bank is one of the leading south-based bank with a business size of above Rs 1.9 trillion. The GOI holds 58.5 per cent stake while the other major shareholder LIC holds 25.5 per cent stake. Corp Bank has managed to grow at a decent pace in the past [...]
Buy Reliance Industries – Target 1040
CMP: Rs 806 Target: Rs 1,040 We believe the broad regulatory charges on RIL, DGH and the ministry regarding violating the PSC would have no material impact on RIL as the regulators have also been criticized of being unequipped. We have trimmed our estimates for FY12 and FY13 due to lingering concerns on the global [...]
Short Term Buy Recommendation – IRB Infrastructure Developers
Investors with short-term perspective can consider buying the stock of IRB Infrastructure Developers. It is evident from the charts of the stock that since peaking out at its all-time high at Rs 312 in August 2010, the stock has been on a long-term downtrend. Medium-term trend is also down from this April peak of Rs [...]
Short Term Buy Recommendation – Jindal Saw
We recommend a buy in the stock of Jindal Saw from a short-term perspective. It is evident from the charts of the stock that after encountering significant resistance at Rs 225, the stock reversed its trend and started to decline. Since then it has been on an intermediate-term downtrend. However, the stock found support at [...]
Medium Term Buy Recommendation – TVS Motor Company
Investors with medium-term perspective can consider buying the stock of TVS Motor Company (Rs 57.4). After bottoming out in January 2009 at around Rs 7.5, the stock was on a bull-run until it encountered long-term resistance around Rs 86 in November 2010. In February this year, the stock’s significant longer-term support band between Rs 48 [...]
Future Capital Holdings – Buy Recommendation
We recommend a buy in the stock of Future Capital Holdings from a short-term perspective. It is apparent from the charts of the stock that between this February and June, the stock took support at the zone between Rs 130 and Rs 135 many times marking it as a key long-term base level. The stock [...]
Apollo Tyres – Short Term Buy Recommendation
We recommend a buy in the stock of Apollo Tyres from a short-term perspective. It is seen from the charts of the stock that since bottoming out in early February at around Rs 44, it has been trending upwards. However, the stock encountered resistance at Rs 82 and started to decline. After retracing 50 per [...]
