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    Stock picks for October 8, 2012

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    Stock picks for October 8, 2012
    Here are a few stock ideas from leading brokerage houses in the country.
     

    HCL Tech

    PN Vijay, Portfolio Manager, askpnvijay.com is positive on HCL Tech and TCS  .

    Vijay told CNBC-TV18, "IT majors maybe optically a bit muted because of the strength of the rupee but I think the pessimism on IT majors is not warranted. For example I do believe that HCL Tech and TCS will present decent numbers, Infosys we will have to see and in the midcap pack again they will be quite mixed."

    BHEL

    PN Vijay, Portfolio Manager, askpnvijay.com advice traders to hold BHEL at current levels.

    Vijay told CNBC-TV18, "BHEL right now for me is a hold because it has run up a lot from about Rs 200 to Rs 260 and not for that reason. But one needs to really see the order flow. Unlike a Larsen and Turbo where one is more comfortable about the order flow, one needs to actually see whether there is alarming deceleration in order accretion or it is okay."

    L&T

    Buy Larsen and Toubro (L&T) 1650 Call, says VK Sharma, HDFC Securities.

    Sharma told CNBC-TV18, "I think positions were built in Larsen and Toubro despite whatever the reasons were and I think the stock is technically behaving well. So buy 1,650 call at around Rs 45 and keep the stoploss at Rs 30."

    ITC

    Parag Doctor, Keynote Capital advice traders to buy defensive stocks like HUL and ITC .

    Doctor told CNBC-TV18, "Looking at today's action going into defensives is what we are recommending. In the midcaps stocks like Dabur and Tata Global, Divi's lab in the pharma space, these stocks which have underperformed recently because of the uptrend in the cyclicals. They have gradually come back into favor and it would be advisable to get into even the large cap names like HUL and ITC simply as a hedge to protect against any downside in the broad market. So the defensives should be doing well across both the large cap and the midcap space as of now."

    GoodReturns.in

     

    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.

    Read more about: stock picks
    Story first published: Monday, October 8, 2012, 8:45 [IST]
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