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Stock picks for July 17, 2012

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Updated: Tuesday, July 17, 2012, 11:20 [IST]

Stock picks for July 17, 2012

A few stock tips for July 17, 2012.

Hindalco: Barclays Capital has added Hindalco Industries Ltd to its top-10 stock picks in India, in place of Infosys which was downgraded to 'equal-weight' following disappointment over its April-June results. The investment bank says Hindalco could benefit from potential approvals on coal blocks at its Mahan project, as well as cash flow from US unit Novelis, which is not dependent on commodity prices.

HDFC: Motilal Oswal is bullish on HDFC and has recommendation with the target price of Rs 800 in its July 13, 2012 research report. Analysts believe valuations are reasonable, considering HDFC's growth potential, sound business fundamentals, and substantially improved subsidiaries' performance.

Tata Power: Goldman Sachs is bullish on Tata Power and has recommended buy rating on the stock with a target of Rs 121. With the stock trading at a 20% discount to its existing asset value, visibility on timelines for the power purchase agreement resolution will trigger a re-rating, it added.

Exide Industries: Ambareesh Baliga, COO, Way2Wealth is bullish on and has recommendation around target price of Rs 122.

Sintex Industries: Dolat Capital is bearish on Sintex Industries and has recommended reduce rating on the stock with a target of Rs 63 in its July 16, 2012 research report.

DISCLAIMER: GoodReturns provides you with information covering shares, futures and options based on broker's reports as stated on various media. Investors are, however, warned that they should NOT take any buy or sell decision based on these views expressed in the article. Investors should consult their own financial and share advisors before taking purchase or sale decisions. GoodReturns does not take any responsibility for any losses incurred by investors who take their cues from the above article.

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Topics: hdfc, hindalco
Story first published:  Tuesday, July 17, 2012, 9:00 [IST]
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