IIFL is bullish on Apollo Tyres and has recommended buy rating on the stock with a stop loss of Rs 86 for the target price of Rs 92, in its December 19, 2012 research report.
"Apollo Tyres has given an upside breakout after consolidating in an inverted head & shoulders formation which resembles bullish structure. Also, the stock closed above its 100-DMA for the first time since first week of December 2012, the same coincides with the neckline of inverted head & shoulders pattern. On the oscillator front, RSI is suggesting more upside from the current levels. (Duration 5 days)," says IIFL research report.
According to IIFL, traders can buy Punjab National Bank (PNB) January future above Rs 863.5 for the target of Rs 903.5 with a stop-loss of Rs 843.5.
"PNB has been trading near critical breakout levels of Rs861 since last five sessions but has failed to surpass the neckline of ‘double bottom' pattern so far. A formation of ‘hanging man' certainly hints sign of trend reversal but in case stock manages to surpass the resistance of Rs862, such pattern would get converted into a bullish form. The amplitude of ‘double bottom' has been projecting target of Rs985 but there could be supply which could be visible around Rs905. (Duration 12 days)," says IIFL research report.
Rajesh Agarwal, Eastern Financiers is of the view that, one can buy Karnataka Bank around Rs 160 for the target of Rs 200 level.
Agarwal told CNBC-TV18, "After the clearance of the banking bill we feel that there would be lot of merger and acquisition activities in the banking sector. Karnataka Bank has been surrounded by whole lot of news about being acquired by some bank or the other in the recent past. This news has seen the market cap being almost doubled in the near term but still we feel that on valuation parameters it is still at lucrative levels."
Sushil Finance is bullish on LIC Housing Finance (LICHFL) and has recommended accumulate rating on the stock with a target of Rs 330 in its December 19, 2012 research report.
"LICHFL is 2nd largest player in Housing Finance Industry with a market share of 11%, and is augmenting its position for increasing its market share in highly competitive home financing space. Also better and controlled focus on a single market gives it a competitive edge over Banks. Management foresees strong demand scenario over the next 7 years considering the supply gaps and under penetration for financing affordable housing, despite of some pockets remaining soft. It has strong pan India presence with 193 offices and +10,000 agents to extend its marketing reach with strong brand recognition of its parent LIC."
Firstcall Research is bullish on Kopran and has recommended buy rating on the stock with a target of Rs 25 in its December 18, 2012 research report.
"Kopran is the group company of Parijat Enterprises. Kopran is currently an integrated Pharmaceutical Company manufacturing a large range of products. It manufactures both Active Pharmaceutical Ingredients and Finished Dosage Forms. Kopran's products are registered globally and its facilities match best of international standards and are approved by various Regulatory authorities. Kopran focused on improvement in technology and new products duly integrated through their sophisticated Research & Development department."
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