Stock ideas for April 18, 2013

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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