Stock picks for July 18, 2012

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Stock picks for July 18, 2012

MindTree: Angel broking is bullish and has recommended buy rating on the stock with a target of Rs 708 in its July 16, 2012 research report.

MindTree reported spectacular growth for the first quarter ended June 30, 2012. The company's net profit surged by 116% year on year(y-o-y) to $16.7 million in dollar terms. While, the rupee profits have surged by 157.2% y-o-y for the first quarter ended June 30, 2012.

Axis Bank:  Sudarshan Sukhani, has recommended buying Axis Bank on dips.

Sukhani told CNBC-TV18, "Axis Bank is one of the better banking companies as far as technical are concerned. Few percentages up and down moves are going to come. If they do not come then the markets will come to a standstill. So we shouldn't worry about that."

Coal India: Global investment bank CLSA has upgraded Coal India to outperform. Coal India is expected to boost production from its fields and improve output.

Tata Steel: Angel Broking has recommended a buy on Tata Steel with target price of Rs 499. Tata Steel is expected to sell its 50% stake in Netherlands-based HKS to Euro Scrap Alliance, according to news reports. HKS is a ferrous and non-ferrous metals recycler with an annual turnover of Rs 2,700.

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.

Read more about: mindtree, axis bank
Story first published: Wednesday, July 18, 2012, 9:01 [IST]
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