Stock picks for August 10, 2012

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Stock picks for August 10, 2012
Here are a few stock ideas that could help discerning investors in the medium to long term.

Mahindra and Mahindra: ICICIdirect.com is bullish on Mahindra and Mahindra (M&M) and has recommended buy rating on the stock with a target of Rs 824 in its August 9, 2012 research report.

"Mahindra and Mahindra (M&M) reported a strong set of Q1FY13 numbers with topline (Rs 9367.4 crore) and bottom-line (Rs 725.6 crore) growth better than street estimates. 

Raymond: FinQuest Securities is bullish on Raymond and has recommended buy rating on the stock with a target of Rs 480 in its August 1, 2012 research report.

Gujarat Mineral: Firstcall Research is bullish on Gujarat Mineral Development Corporation (GMDC) and has recommended buy rating on the stock with a target of Rs 219 in its August 3, 2012 research report.

We expect that the company surplus scenario is likely to continue for the next three years, will keep its growth story in the coming quarters also. We recommend ‘BUY' in this particular scrip with a target price of Rs 219 for medium to long term investment," says Firstcall Research report.

Tata Motors: Buy Tata Motors for a target of Rs 294, says Ajay Shethia, Centrum.

Shethia told CNBC-TV18, "For Tata Motors, we had actually downgraded to hold when it was at levels of Rs 300. Now if you see, there is been a significant correction in the stock and at this level we continue to remain buy on the stock. We had upgraded it to Rs 20 level and continue to maintain a buy rating on the stock."

ONGC: IIFL is bullish on ONGC and has recommended buy rating on the stock with a target of Rs 289 in its August 9, 2012 research report.

"Oil and Natural Gas Corporation (ONGC) has been moving on rectangular trading band between Rs277-288 in past four weeks. The stock is already trading with golden crossover which means 50 DMA crossing above 200 DMA with prices forming higher bottom.

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Story first published: Friday, August 10, 2012, 8:36 [IST]
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