Stock picks for September 3, 2012

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Stock picks for September 3, 2012
IVRCL: Quotes, News
BSE 4.33BSE Quote0.05 (1.15%)
NSE 4.25NSE Quote0 (0.00%)
Here are a few stock ideas with a long-term perspective in mind.

IVRCL

Angel Broking is bullish on IVRCL and has recommended buy rating on the stock with a target of Rs 51 in its August 31, 2012 research report.

"IVRCL Infrastructure (IVRCL) reported disappointing numbers for 1QFY2013, with lower-than-expected performance. IVRCL has merged IVRCAH with itself during the quarter. The company has sold its stake in one of its road BOT projects and has recognized an amount of Rs117cr.

Emkay Global Financial Services is also bullish on IVRCL and has recommended accumulate rating on the stock with a target of Rs 47 in its August 31, 2012 research report.

South Indian Bank

Magnum is bullish on South Indian Bank and has recommended buy rating on the stock with a target of Rs 26 in its August 31, 2012 research report.

South Indian Bank's has declared a decent numbers for the quarter ended June 2012. Although high ROEs of +19%, the recent deterioration in asset quality and continuous challenging operating environment the bank is well poised for growth in coming quarters. Total Business of the Bank stood at Rs. 64,502 crore, recording a Y‐o‐Y growth of over Rs. 10,729 crore (YoY Growth Rate of 20%) in June'12.

Reliance Industries

SP Tulsian of  sptulsian.com is bullish on the stock and advice traders to buy Reliance Industries around Rs 765.

Tulsian told CNBC-TV18, "I have not been maintaining by positive view on Reliance Industries beyond Rs 800 and in fact when the price moved to Rs 815 the profit booking was advised and I think now the proper entry level for the stock could be at Rs 765-770 where now it is ruling."

MphasiS

Aditya Birla Money has maintained neutral rating on MphasiS with a target of Rs 381 in its August 31, 2012 research report. The research firm says management's strategy of transforming the company into more direct business-oriented & Non ES have started to show strong signs of results, which is good sign for Mphasis.

"Mphasis posted a modest topline increase of 2% to Rs13.55 bn from Rs 13.29 bn on sequential basis and an increase of 4.8% from Rs 12.94 bn on YoY basis. For the fourth consecutive quarter, the revenue has declined in dollar terms (6.9% in Q3 on QoQ). Direct Channel (DC) grew by 9.3% & HP channel continued to face pressure and de-grew by 3.3%.

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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: Monday, September 3, 2012, 8:49 [IST]
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