Buy Biocon with a target of Rs 303 and stop loss at Rs 290. A couple of reasons why I like the stock; I think that this price fundamentally given the way the results are expected to be, it looks good for a target of about Rs 312. The recent changes in insulin regulation prices etc are good for Biocon. So, I would expect the stock to rally further on this news. Therefore, buy with a price target of Rs 303.
Buy Voltas with a target price of Rs 80 and stop loss at Rs 76.7. Last quarter we saw disastrous results from Voltas where margins came down sharply but subsequently in the last month or so we heard that they have registered good air conditioner sales. Therefore, expecting a recovery on that as well as overall recovery in the orders that we have seen them get in this quarter would drive the stock price higher. So, a bit of buying before results is warranted. Therefore, buy in the stock with a target of Rs 80 for the day.
Buy Yes Bank with a target of Rs 446 and a stop loss at Rs 432. I like banking as a space at this point in time because we are seeing good traction across the space. Yesterday I included a public sector undertaking (PSU) bank and today I would introduce a private bank into the list. This is a stock that has a target of close to Rs 500. For the day I am buying it with a target of Rs 446.
Buy Essar Oil with a target of Rs 83 and a stop loss at Rs 79.50. We have seen a couple of good things happen for Essar Oil; one is of course the fact that they are going to exit the corporate debt restructuring schemes (CDR) mechanism then the clearances that they have got for their Raniganj oil fields. So, overall things are happening on the ground also there has been talk of they raising additional finance, which has added further momentum to the stock. I would expect the stock to rally to close to about R 90 levels. For the day I am buying it with a target of Rs 83.
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