Orient Paper & Industries Ltd(Hold)
We have a contrarian call on this stock. It is trading at a very attractive valuation. The company is into paper, cement and electrical business. The paper division of the company suffered because there was water scarcity in the area. It is now back in full swing with the construction of a large water reservoir to take care of future water security. The cement division is also expected to do well on the back of pick-up in demand.
Mahindra & Mahindra Ltd(Hold)
Hold the counter with a stop-loss of 735. The stock has support at 740 and resistance at Rs. 800.
Suzlon Energy Ltd(Hold)
The company’s revival is far off. The debt levels are high. Sell at 53-54 levels. Most negatives have already been factored in the stock price. The stock is unlikely to go below 50 levels and the breakout is at 65-70 levels after which a target of 200-250 is possible in 3-5 years.
Karuturi Global Ltd(Hold)
The utilisation of flowers is expected to go up. The company’s revenue from exports is likely to grow by 30 per cent (YoY basis). Hold with a short term target of 35 The stock is likely to be range bound between 39-30 levels for 3-4 months. The stop loss is far off at 23.50 so sell.
We have a contrarian call on this stock. It is trading at a very attractive valuation. The company is into paper, cement and electrical business. The paper division of the company suffered because there was water scarcity in the area. It is now back in full swing with the construction of a large water reservoir to take care of future water security. The cement division is also expected to do well on the back of pick-up in demand.
Mahindra & Mahindra Ltd(Hold)
Hold the counter with a stop-loss of 735. The stock has support at 740 and resistance at Rs. 800.
Suzlon Energy Ltd(Hold)
The company’s revival is far off. The debt levels are high. Sell at 53-54 levels. Most negatives have already been factored in the stock price. The stock is unlikely to go below 50 levels and the breakout is at 65-70 levels after which a target of 200-250 is possible in 3-5 years.
Karuturi Global Ltd(Hold)
The utilisation of flowers is expected to go up. The company’s revenue from exports is likely to grow by 30 per cent (YoY basis). Hold with a short term target of 35 The stock is likely to be range bound between 39-30 levels for 3-4 months. The stop loss is far off at 23.50 so sell.
Shares of banks and real estate players tumbled on Wednesday following raids by the Central Bureau of Investigation (CBI) to investigate an alleged multi-crore fake home loans scandal.
The CBI raids were conducted at New Delhi, Mumbai, Kolkata and Chennai.Senior officials of LIC Housing Finance, Central Bank of India and Bank of India were being interrogated.
Shares of LIC Housing Finance are trading at Rs 1,067.10, down Rs 241.05, or 18.43% at the Bombay Stock Exchange (BSE) on Wednesday at 3:12 p.m.
Shares of Central Bank Of India are trading at Rs 193.20, down Rs 21.95, or 10.20% at the Bombay Stock Exchange (BSE) on Wednesday at 3:03 p.m.
Shares of D B Realty are trading at Rs 255, down Rs 57, or 18.27% at the Bombay Stock Exchange (BSE) on Wednesday at 3:22 p.m.
Shares Orbit CorporationRs 6.95, or 7.34%, to trade at Rs 87.70. The total volume of shares traded was 286,304 at the BSE 3.22 p.m.
Shares of UCO Bank declined Rs 5.8, or 3.93%, to trade at Rs 141.70. The total volume of shares traded was 2,003,671 at the BSE 3.26 p.m.
Shares of Canara Bank dropped Rs 41.85, or 5.41%, to trade at Rs 731.05. The total volume of shares traded was 173,720 at the BSE 3.28 p.m.
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