Stock picks for August 29, 2012

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Stock picks for August 29, 2012
Here are a few stock ideas with a long-term perspective in mind.

Sterlite Industries

Mithil Pradhan, Violet Arch Capital Advisors advice traders to short Sterlite Industries around Rs 110- 112.

Pradhan told CNBC-TV18, "It's a little too late to short metal stocks. Tata Steel is almost near the previous low, same goes with Hindalco , similarly goes with SAIL. I think Sterlite is one stock which I am very bearish on. I have been bearish on this stock for the last one week really and if you are fortunate to get about Rs 110-112 sorts of prices then I think you can enter short positions in this stock."

Tech Mahindra

Ventura is bullish on Tech Mahindra and has recommended buy rating on the stock with a target of Rs 1012 in its August 27, 2012 research report.

"Tech Mahindra is witnessing growth in its non BT business and is eyeing large opportunities in Europe. For Q1FY13, where revenues from BT stood at $101.3 mn (-12.6% yoy, -2.8% qoq), revenues from the non BT business posted a growth of 1.5% qoq to $180 mn (+3.5% yoy). The merging entity Mahindra Satyam (MSat) has also come a long way and got its act right. Not only has MSat retained most of its clientele but also has added new clients to its portfolio."

Adani Ports

RChoksey is bullish on Adani Ports and Special Economic Zone (APSEZ) and has recommended buy rating on the stock with a target of Rs 145 in its August 28, 2012 research report.

"Adani Port has been denied security clearances for the coal import terminal at the Mormugao port in Goa. Adani port has a mandate to develop 12 mn ton coal terminal with capex of Rs 400 crore on BOT basis with the concession period of 30 years. The company has 20% revenue sharing tie up with port trust and expected to commence operations in FY13E."

Jindal Steel & Power

Buy Jindal Steel & Power (JSPL) on 3-5% dip, says Mehraboon Irani, Nirmal Bang Securities. I feel at the present level, the negatives are there in the price. So maybe another 3-5% more which could go down because of sentiment or whatever but I think there is value in this company at this particular price.

Irani told CNBC-TV18, "In Jindal Steel & Power I feel at the present level, the negatives are there in the price. So maybe another 3-5% more which could go down because of sentiment or whatever but I think there is value in this company at this particular price."

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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.

Read more about: stock picks, tech mahindra, sterlite
Story first published: Wednesday, August 29, 2012, 8:37 [IST]
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