April 23 stock tips: Cairn India, MindTree and more

Cairn India:

Sudarshan Sukhani of s2analytics.com advised holding Cairn India. According to him, the worst for Cairn India seems to be over in terms of share price.

Sukhani told CNBC-TV18, "I would say he should hold on Cairn India. It seems that the worst of Cairn India is behind it in terms of share price movement. From hereon whether it is slow or rapid that is a different question; the trajectory should be on the upside. The stock price is almost at the lows. Let him hold on."

Wipro:

Angel Broking is bullish on Wipro and has recommended accumulate rating on the stock with a target price of Rs 385 in its April 19, 2013 research report.

"Wipro came out with a lower-than-expected set of results for 4QFY2013; the results are lower on the revenue as well the margin front. The IT services' USD revenue growth came in at just 0.5 percent qoq. The only positive in the results was the 2.5 percent qoq volume growth in IT services. Going forward, for 1QFY2014, the Management has given a USD revenue guidance of US$1,575mn-1,610mn, which translates into a qoq growth of -0.6 to +1.6 percent, which is well below our expectation of +1.5-3.5 percent qoq growth.

Mindtree:

Dolat Capital has recommended reduce rating on Mindtree with a target price of Rs 800 in its April 22, 2013 research report.

"Mindtree has indicated better forecast for FY14 over FY13 supported by strong recovery in PES business segment based on deal won and better client relationship management. It has also indicated stable margins despite strong hiring plans and wage likely hikes due in the month of June. We believe the optimism in the stock has been well ahead of any meaningful business recovery and thus pose a threat in case of weak deal rampups.

Ultratech Cement:

Sudarshan Sukhani, s2analytics.com advises to buy Ultratech Cement on dips.

Sukhani told CNBC-TV18, "Technically, most of the cement space is not attractive but I would go with Ultratech Cement. It is an exception. It is now on the verge of a breakout. This minor decline is a buying opportunity. You are buying on a dip and anticipating a bigger move."

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