Sudarshan Sukhani of s2analytics.com is bullish on the stock and has advice investors to buy Tata Motors.
Sukhani told CNBC-TV18, " M&M had rallied a lot. It moved up from Rs 670-770, so I think in all fairness the markets are sliding today, M&M will also. Now some news comes, that's a different story. It would have slipped anyway. So M&M is on a correction. Somewhere around Rs 720-730 that correction ends, it becomes a buy again. The trend is not disturbed."
IIFL is bearish on Rural Electrification Corp. Ltd (REC) and has recommended sell rating on the stock.
Rural Electrification Corp. Ltd on daily chart has violated support of Rs 209 on a closing basis and has led to breakdown from a rectangular trading pattern with next inter-mediate support placed below Rs 200. The daily relative strength index is also reinforcing sell signal.
Microsec is bullish on LIC Housing Finance (LICHF) and has recommended buy rating on the stock with a target of Rs 317 in its August research report.
"LICHF's strong sustainable business structure along with strong parent and thoughtful business activities has helped the company to absorb the opportunity in the industry, which has boosted its topline and bottomline growth. Operating profit has grown at a CAGR of 30.08% over the period of 2008-12. Whereas, Profit after Tax (PAT) grew at a CAGR of 23.81% over the same period.
Mircosec is bullish on Ceat and has recommended buy rating on the stock with a target of Rs 149 in its August 23, 2012 research report.
"Ceat Ltd is planning to invest 250 crore for setting up green field bias tyre plant in Bangladesh with an initial production capacity of 65 tonnes per day. The Bangladesh plant will make cross-ply tyres for trucks, light and small commercial vehicles and two-wheelers for the local market which is currently around Rs. 1,000 crore. It is expected to grow to around Rs. 1,200 crore by 2015. The firm aims to capture 40% of the projected demand of cross-ply tyres in the region by 2015."
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