Stock picks for July 23, 2012

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Updated: Monday, July 23, 2012, 8:45 [IST]
 
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 Stock picks for July 23, 2012

Trading for the week is likely to begin on a dismal note with equities slated to open lower. However, here are a few stock ideas that could help discerning investors in the medium to long term.

United Phosphorus
Emkay Global Financial Services is bullish on United Phosphorous  and has recommended accumulate rating on the stock with a target of Rs 172.

"United Phosphorus consol revenues increased by 19% yoy to Rs 22.1bn (higher than est) primarily driven by higher than estimated revenues from India. Exchange gain contributed 11% to growth while pricing increased by 5% with the balance 4% being contributed by volumes. Organic growth remains muted. Indian revenues grew by 16% yoy (driven by both price and volumes) while North American revenues grew by 32% yoy (mainly on account of currency depreciation). Europe and RoW market grew by 12%-15%."

Kotak Mahindra Bank
K R Choksey is bearish on Kotak Mahindra Bank  and has recommended reduce rating on the stock with a target of Rs 545.

"We remain positive on long term business fundamentals of the bank; however expensive valuation implies limited upside from current levels. Hence we maintain REDUCE rating on the stock with target price of Rs 545," says K R Choksey research report.

Reliance Industries
Analysts are recommending buying the stock of Reliance Industries, with a medium to long term perspective. The company reported better than expected Q1 performance, with gross refining margins pleasantly surprising on the upside. With an aggressive expansion plan and huge cash reserves the company could have a price target of Rs 900 in the next 18 months.

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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.

Story first published:  Monday, July 23, 2012, 8:40 [IST]
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