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Stock picks for October 5, 2012
Prabhudas Lilladher is bullish on Sobha Developers and has recommended Accumulate rating on the stock with a target price of Rs 409 in its October 4, 2012 research report.
"Sobha Developers' volumes grew 19% sequentially to 0.94m sq.ft, the best ever it has achieved in a single quarter. In terms of value, sales stood at Rs 5.2bn, QoQ growth of 10% and YoY growth of 8.6%. For H1FY13, the company has already achieved the midway mark as compared to its sales guidance for FY13 in terms of volumes and value. In volume terms, the sales for H1FY13 stand at 1.78m sq.ft as compared to a guidance of 3.75m sq.ft, while in terms of value, sales are at Rs 10.06bn as against a target of Rs20bn for the year.
One can buy Prestige Estates Projects with a stop loss of Rs 132 for target of Rs 155-160, as the stock is having an excellent chart, says Shardul Kulkarni, Angel Broking.
Kulkarni told CNBC-TV18, "In case of real estate, again stock picking is very important for making money in this market. It is not that anything and everything will rally. Prestige Estates Projects has an excellent chart. At this point of time the stock is looking very good for a 10-12% up move from the current levels. So I would be bullish in case of Prestige."
Sunidhi Securities is bullish on Venus Remedies and has recommended buy rating on the stock with a target of Rs 400 in its October 3, 2012 research report.
"Venus Remedies Incorporated in 1989, Chandigarh-based Venus Remedies (VRL) has two manufacturing locations in Punchkula and Baddi in India and one in Germany. Venus is a contract manufacturer of Oncological and Cefalosporine injectable products following EU-cGMP norms.
Angel Broking recommends to maintain neutral rating on the stock. In a relief to Bharti Airtel Ltd, the Delhi High court has granted stay on a government order asking the firm to stop offering 3G mobile services outside their licensed areas through roaming pacts. The court has asked the departmnet of telecommunication to not take any coercive action until the next earning.
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