Aug 14, 2013, 02.03 PM IST
Aashish Tater of Fortunewizard.com recommends selling Financial Technologies for a target of Rs 50. He also advises selling Indian Hotels Company for target of Rs 39.50.
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Sell Financial Tech, Indian Hotels, Voltas: Tater
Aashish Tater of Fortunewizard.com recommends selling Financial Technologies for a target of Rs 50. He also advises selling Indian Hotels Company for target of Rs 39.50.
Like this story, share it with millions of investors on M3
Sell Financial Tech, Indian Hotels, Voltas: Tater
Aashish Tater of Fortunewizard.com recommends selling Financial Technologies for a target of Rs 50. He also advises selling Indian Hotels Company for target of Rs 39.50.
Financial Technologies is a short from my side. We are going to downgrade the stock for a target of Rs 50. We have been advising an avoid in this particular stock and even now with yesterday's clarity from brokers side there is hardly any equivalent of commodity available on the warehouses. We feel this could be disastrous for the stock.
One may sell Indian Hotels Company for target of Rs 39.50. The company owns ITDC's 7.87 percent stake and as per March the closing was somewhere around Rs 665. When we calculated the fair value of the stock around Rs 67 with a holding discount of 45 percent on the stock. The government had gone for an follow on public offer (FPO) at Rs 70/share and we have seen what happened to other FPO stocks.
One can Adani Enterprises for a target of Rs 164 and a stop loss of Rs 173.50. Last time also the stock got punished when NSEL saga came into limelight. Though there were verification from management last time, but because there will be sentimental pressure across all the companies we feel Rs 164 and Rs 155 are likely achievable in today's trade.
One may sell Voltas for a target of Rs 73 and stop loss of Rs 77.75. The stock has come out with results with lower margins and lower topline. From our estimates we feel the stock will get a punishment of 4-5 percent in today's trade. Thus this is another stock where we feel shorting can be done.
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