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Stock tips for Nov 8, 2012


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

JP Associates:

Sudarshan Sukhani, is bullish on the stock and advice traders to buy JP Associates.


He further added, "JP Associates went through a correction and we felt that okay it is topping out and that was not the case because idea was that once a stock moves up at some point it goes through a dip and that dip was just that. JP Associates has a very strong uptrend in place and it is one of the superior midcap stocks for a momentum trader. We should be looking to buy it on any minor dip."

Central Bank:

Sudarshan Sukhani, is also bullish on Central Bank and recommends buy rating on the stock.

Sukhani told CNBC-TV18, "Central Bank appears to be a very interesting PSU bank to buy now. Second is Canara Bank. Although Canara Bank has been a little bit of a disappointment but from current levels there is some speculative momentum likely."

Britannia Industries:

KRChoksey is bullish on Britannia Industries and has recommended buy rating on the stock with a target of Rs 563 in its November 6, 2012 research report.

"Britannia Industries Net sales improved by 9% YoY to Rs 1417 crores on account of healthy mix of volume(~3-4%) & balance led by product mix and pricing growth. We expect Britannia's revenue to grow at a healthy CAGR of 13% over FY12-14E on account of both volume and pricing led growth, continuous innovations, increased penetration & judicious price hikes. However increased competition from ITC, Parle and Kraft is expected to keep volume and realizations under check."

Union Bank:

One can create fresh long positions in Union Bank of India on decline around Rs 225 by keeping a stop loss of Rs 215 and target of Rs 245, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "PSU banks have given good opportunities. Union Bank of India was one such opportunity which is up 6-6.5%. All those who are holding long positions, the advice would be hold on to long positions. Expect the stock to move to around Rs 245. All those who want to create fresh long positions; one can buy the stock on decline to around Rs 225. The stop loss for the trade should be around Rs 215, Rs 245 is the eventual target that we expect in case of Union Bank."

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: Thursday, November 8, 2012, 8:56 [IST]
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