Emkay Global Financial Services is bearish on Godrej Consumer Products and has recommended sell rating on the stock with a target of Rs 580 in its November 5, 2012 research report.
"Godrej Consumer Products, Q2FY13 was extremely strong on revenue performance registering jump of 34% yoy to Rs16.0 bn. Though, India operations was on relatively weaker footing with 19% yoy growth in revenues, the international business grew 63% yoy with inherent organic growth of 34%. India operations had just 4% volume growth in Soaps, hit by the ongoing relaunch of Cinthol brand. Whereas, international business saw consolidation of Darling Group spiking overall growth and strong performance in Megasari +37% yoy (Rs3.2 bn), Latin America +93% yoy (Rs1.3 bn) and Other Geographies +29% yoy (Rs0.7 bn)."
Sudarshan Sukhani of s2analytics.com advice traders to buy ITC on dips and Cipla has resistance around Rs 400.
Sukhani told CNBC-TV18, "Cipla has rallied from Rs 350 to Rs 375 that is as good as it gets in this choppy market. Technically Cipla is in good shape. Sometimes we have seen companies or share prices react in different ways to numbers. I cannot predict how the markets reaction will be but whatever the reaction is eventually Cipla should see Rs 400 plus."
Ambareesh Baliga, Market Expert advice traders to buy Voltas around Rs 105 and Exide Industries has support around Rs 137.
Baliga told CNBC-TV18, "Voltas numbers also I don't think there should be too much of expectation as such because of which anyway we have not really seen Voltas performing, but I would say that in case like it disappoints and Voltas comes down, I think again at levels of closer to Rs 104-105, if it comes to those levels one should be looking at buying."
Emkay Global Financial Services is bearish on Union Bank of India and has recommended reduce rating on the stock with a target of Rs 190 in its November 2, 2012 research report.
"Union Bank of India (UNBK) Q2FY13 NII at Rs18.5bn (+11% yoy) was inline with our estimates and was led by 19% yoy (1.5% qoq) growth in loan portfolio and flat margins at 3.02% qoq. Non-int income at Rs5.5bn (+9% yoy) was helped by 19% yoy growth in fee income and stellar 33% yoy rise in recovery from w/off accounts. Provisions came in higher at Rs4.8bn (NPA Rs3.5bn vs Rs4.4bn in Q1FY13 and restructuring Rs690mn vs Rs700mn in Q1FY13). As a result, net profit at Rs5.5bn grew +57% yoy / 8% qoq. Even as the slippages were at Rs8bn in line with estimates, robust recoveries at Rs4.6bn took us by surprise."
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.