Stock picks for August 24, 2012

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Stock picks for August 24, 2012
Markets are expected to open lower in line with Asian market. Here are a few stock ideas with a long-term perspective in mind.

ABB

Firstcall Research is bullish on ABB and has recommended buy rating on the stock with a target of Rs 862 in its August 21, 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 862 for medium to long term investment," says Firstcall Research report.

Rolta India

Prabhudas Lilladher is bullish on Rolta India and has recommended accumulate rating on the stock with a target of Rs 85 in its August 22, 2012 research report.

"We believe that the decline in the revenue is a matter of concern. We believe that a high interest cost in depreciating currency and a weak business environment could result in decline at the bottom-line. We retain our ‘Accumulate' rating, with a target price of Rs85, 6x FY13e earnings estimates," says Prabhudas Lilladher research report.

Balrampur Chini

Balrampur Chini Mills can rally around 25-30% from current levels, so one can buy the stock with a stoploss of Rs 62 for target of Rs 81, says Rahul Mohindar of viratechindia.com.

Mohindar told CNBC-TV18, "Sugar definitely has been moving quite a bit and the stock I would like to buy into at this point would be Balrampur Chini. Couple of things that one observed on the stock, if we look at volumes that was the first thing which hit the eye, the months of July and August have clocked a significantly high volumes that is even if we compare to the last 18 months."

Simplex Infrastructures

Angel Broking is bullish on Simplex Infrastructures and has recommended buy rating on the stock with a target of Rs 265 in its August 21, 2012 research report.

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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.

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Story first published: Friday, August 24, 2012, 8:47 [IST]
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