Stock picks for October 23, 2012

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Stock picks for October 23, 2012
Here are a few stock ideas from leading brokerage houses in the country.

Larsen and Toubro

Buy Larsen and Toubro (L&T) around Rs 1640-1650, says Ambareesh Baliga, Market Analyst.

Baliga told CNBC-TV18, "L&T has been my favorite for quite a while and I have been recommending that also for the last so many months and again it was a surprise when I saw the results, they are surely much better than what they are expecting because infact I did not expect such good numbers this quarter."

He further added, "I was expecting much better numbers coming for December and March. So looking at sort of a performance they have put up now surely December will be a bigger surprise and I will not be too surprised to see L&T at closer to about Rs 1850 levels."

SBI, Canara Bank

Sudarshan Sukhani, advice traders to buy SBI and Canara Bank at current levels and one can avoid L&T at these levels.

Sukhani told CNBC-TV18, "I would avoid L&T . It is reacting to its numbers and is at 52 week highs for a long time now. It is reaching a point where I would assume L&T will go through a correction or distribution or a choppy market. So this is not a time to buy. All stocks go through these phases of optimism, pessimism, up down. We are at the top of that phase now. I wouldn't buy it."


Prakash Diwan, Prakash Diwan's Wealth Circle advice traders to buy MindTree at current levels.

Diwan told CNBC-TV18, "MindTree has been a very fair kind of a outcome. They have clearly indicated a slowdown they have expecting and the reason they have attributed that slowdown is very clearly saying decision making at the client side is taking time, which really doesn't mean that it won't possibly get into a fresh business and that's a clear buy signal if things improve it could really gallop from here faster in a much faster pace than most of the other stocks would. So, the price already factors in the disappoint and you are actually looking at buying at these levels for the future. So, very clearly, MindTree is a buy at current levels."

Hindustan Zinc

Firstcall Research is bullish on Hindustan Zinc  and has recommended buy rating on the stock with a target of Rs 153 in its October 19, 2012 research report.

"Hindustan Zinc (HZL) was incorporated in January 1966. Hindustan Zinc is a Vedanta Group company in Zinc, Lead andSilver business. HZL is India's leading integrated producer of zinc & lead and is among the world's leading integrated producers. It has a metal production capacity of 10, 64,000 tonnes per annum(879,000 tonnes of zinc and 185,000 tonnes of lead). HZL has around 7,000 employees. The company is a subsidiary of the NYSE listed, Sterlite Industries (India) Limited (NYSE: SLT) and London listed FTSE 100 diversified metals and mining major, Vedanta Resources plc. The Company has four mines and four smelting operations: mines are situated at Rampura Agucha (largest zinc producing mine in the world), Sindesar Khurd, Rajpura Dariba and Zawar in the State of Rajasthan; while the smelters are located at Chanderiya, Debari and Dariba in the State of Rajasthan and Vizag in the State of Andhra Pradesh."

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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