Stock ideas for April 18, 2013

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Stock ideas for April 18, 2013
Here are a few stock ideas from leading brokerage houses in the country.

Gitanjali Gems:

One can buy Gitanjali Gems at current market levels as the stock is expected to test Rs 650 level in near term, says Rahul Mohindar of viratechindia.com.

Mohindar told CNBC-TV18, "Gitanjali Gems has been an outperformer as we have seen over the last couple of months. We have really seen the stock performed all the rough weather. Rs 650 is a price target in the near term and I would look at Gitanjali Gems more short-term rather than for investment. We are looking at targets of Rs 650 probably down a month odd and my stop loss on this trade would be around Rs 575 level and it is worth buying into even at current market levels."

GMR Infra:

Rahul Mohindar of viratechindia.com is of the view that, one can buy GMR Infrastructure  for a short term target of Rs 25 with a stop loss of Rs 20.

Mohindar told CNBC-TV18, "If we look at the entire road map GMR Infrastructure has done over 2013, it has held at Rs 17-18 levels. That has been good support right through the last three-four months and the good part is it has moved up from those levels. So again over here what I do is buy at the current market level, look at a stop loss around Rs 20 which is a good support

HCL Tech:

Sharmila Joshi, Head of Equity, Peerless Securities Ltd. is of the view that one can buy HCL Technologies  with a target of Rs 900.

Joshi told CNBC-TV18, "HCL Technologies gave a greater degree of confidence than the Infosys numbers gave us. So yes, we can wait for TCS numbers because there is no denying that if there is a stock within the IT space which is leading then it is TCS . But just by that argument, perhaps in terms of price appreciation, you could expect a better appreciation in HCL Tech, the numbers were good, they beat street estimates

Orchid Chemicals:

Sharmila Joshi, Head of Equity, Peerless Securities Ltd. is of the view that one can sell Orchid Chemicals,

Joshi told CNBC-TV18, "For me Orchid Chemicals is a sell. This is one of those momentum kind of plays which really speaking is very difficult to predict which way the stock is going to move. So if you want a slightly more stable pharma play I would shift to Ipca Laboratories. That is a stock that I would be more comfortable owning in my portfolio. So I would really recommend an exit."

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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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