Stock picks for September 5, 2012

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Stock picks for September 5, 2012
Here are a few stock ideas with a long-term perspective in mind.

ICICI Bank

Bonanza Portfolio is bullish in ICICI Bank and has recommended buy rating on the stock with traget price of Rs 1,010.

The Year began with stock of ICICI Bank Ltd surging from lower level upto a high of Rs 999. However, selling pressure was witnessed in the following months. The scrip reached a low of Rs 767 and got good support from there. The stock has made higher tops and higher bottoms pattern, says Bonanza Portfolio.

Unichem Labs

ICICIdirect.com is bullish on Unichem Laboratories and has recommended accumulate rating on the stock with a target price of Rs 205 in its September 4, 2012 research report.

"Unichem Laboratories's share price recorded its all-time high of Rs 269 towards late December 2010. Thereafter, it went into a tailspin correcting more than 60% within a year to hit a major trough of Rs 100 towards mid-December 2011. At around Rs 100, the stock retraced the year 2009-2010 (Rs 53 to Rs 269) by precisely 78.6% and witnessed a steady bounce back supported by huge volumes

Nestle India

Motilal Oswal has maintained neutral rating on Nestle India with a target of Rs 4838 in its September 3, 2012 research report. According to the research firm, Nestle to be the single largest beneficiary of the same given its dominating market presence in its core categories.

Motilal Oswal has maintained neutral rating on Nestle India  with a target of Rs 4838 in its September 3, 2012 research report. According to the research firm, Nestle to be the single largest beneficiary of the same given its dominating market presence in its core categories. However, the stock is currently trading at 39x CY12E and 33x CY13E earnings.

JSW Steel

SP Tulsian of sptulsian.com is bullish on the stock and has recomended buy rating.

Tulsian told CNBC-TV18, "For JSPL maybe from a fundamental or investor point of view I will look at Rs 300-310 but the regulatory move or actions remains a overhang. But I am very bullish, very positive on JSW Steel from current levels. Because I don't see the merger of JSW Ispat to be so negative because of some favourable points like JSW Steel to increase their stake to 15%, they will be bringing an additional fund of Rs 1500 crore; the tax benefit and the people have been talking of absorption of loss of JSW Ispat."

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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
Story first published: Wednesday, September 5, 2012, 8:45 [IST]
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