Stock picks for September 7, 2012

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Stock picks for September 7, 2012
Here are a few stock ideas with a long-term perspective in mind.

Ambuja Cements

Buy Ambuja Cements on dips, says Sudarshan Sukhani of

Sukhani told CNBC-TV18, "ICICI Bank and Axis Bank have come to points, which are support levels. The idea is these supports can also break, it is not surprising but assuming that the markets react positively these supports will hold. In that case the private sector banks will have significant upside."

LIC Housing

SKP Securities is bullish on LIC Housing Finance (LICHFL) and has recommended buy rating on the stock with a target price of Rs 298 in its September 5, 2012 research report.

"LIC housing finance Limited (LICHFL) is promoted by Life Insurance Corporation of India (40.3% stake). The company operates in the middle class user segment and provides loans for homes, construction activities and also for corporate housing schemes.

Federal Bank

SKP Securities is bullish on Federal Bank  and has recommended buy rating on the stock with a target price of Rs 468 in its September 5, 2012 research report.

"Federal Bank's net Interest Income (NII) grew 6.9% YoY but virtually flat on a sequential basis to Rs. 4,916 mn. PAT on the other hand grew 30.2% YoY (-19.9% QoQ) to Rs. 1,904 mn on the back of 53.2% decline in overall provisions. 


Sell BHEL  on rally, says Mithil Pradhan, Violet Arch Capital.

Pradhan told CNBC-TV18, "We have been short on Jaiprakash Associates right at the top to be very honest and we have been short on metals index as well right around 10,500 levels. While, I still remain hopeful for further decline towards 5,100 or 5,130 levels, I think the risk reward at this point of time either in metals or even in capital goods or even in infrastructure names, it is not that favourable at this point of time."

Tech Mahindra

Emkay Global Financial Services is bullish on Tech Mahindra  and has recommended accumulate rating on the stock with a target price of Rs 860 in its September 5, 2012 research report.

"Tech M has acquired 100% stake in Hutchison Global Services (HGS) for a total upfront payment of US$ 87 mn.( EV of US$ 67 mn as the acquired entity has cash of US$ 20 mn) As part of the transaction, Tech M would take over 11.5 k employees and delivery facilities in Mumbai and Pune. HGS provides customer lifecycle operations to clients in UK (60% of revenues), Australia (30% of revenues) and Ireland (10% of revenues)

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, September 7, 2012, 8:46 [IST]
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