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Money May 9, 2012

ITC, RIL : Is it a buy or sell?

By Firstbiz Staff

Here is a list of stock recommendations from various brokerage houses and analysts that investors could look at for trading today

ITC is a stock that is on everyone's mind.

ITC is a stock that is on everyone's mind AFP

However, Sudarshan Sukhani of s2analytics.com is of the view that ITC is hugely overpriced. He says that one could take profits slowly and steadily it if reaches 260-270. But Prateek Agarwal of ASK Investment Managers is bullish on the stock, In an interview with ET Now, he said ITC is a compounding business and there are several positives for the stock. The only negative, he said, maybe valuations, which look slightly peakish at the moment.

Dena Bank is a sell strategy according to VK Sharma, Head Private Broking & Wealth Management, HDFC Securities. He recommends buying the 85 put even though the stock fell 5 percent yesterday as there could be more in terms of moving south.

•Rajen Shah, CIO, Angel Broking has a buy on Reliance Communications. He expects the company's debt to come down to about Rs20,000 crore from Rs 35,000 crore and this could lead to re-rating. But it will be a three-four year story.

•Sudarshan Sukhani of s2analytics.com says that one should short Hexaware Technologies. While the stock has done well in the past, its uptrend cycle now seems to be getting over and it is entering into a correction. He is also bearish on Reliance Inds and has a target of Rs650-640.

• Emkay Global has a buy on GSK CONSUMER with a reco price of Rs 2,707 and a target price of Rs 3.000 driven by lower ad spends and higher other income and seven per cent price-led growth.

F&O trading picks:

ICICIdirect has a buy on Petronet LNG : `Buy` May Futures in the range of Rs 139.70-139.90 for the target price of Rs 143.5 - 146.6 with a stop loss placed at Rs 137.90.

It has a Sell on ITC : `Sell` May Futures below of Rs 230.20 for the target price of Rs 225 - 223 with a stop loss placed at Rs 232.20.

Way2Wealth Securities has a sell on Coal India: `Sell` May Futures below of Rs 672 for the target price of Rs 650 with a stop loss placed at Rs 685.

by Firstbiz Staff

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