Stocks That Reliance Securities Is Recommending To "Buy"

Posted By:
Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Markets are still hovering around the 32,000 levels mark with investors selling stocks on rallies. It would be more prudent now to buy selectively as valuations are stretched. Here are a few stocks that Reliance Securities is bullish on.

    Ahluwalia Contracts

    Reliance Securities is bullish on the stock of Ahluwalia Contracts and has placed a buy rating on the stock.

    "We expect Ahluwalia Contracts to secure decent orders on the back of likely up-tick in the affordable housing and institutional segments. We continue to maintain our positive view on the company mainly on the back of: (1) asset light business model; (2) strong balance-sheet (D/E at 0.2x); (3) best-in-class return ratios; and (4) no equity commitment unlike several other construction companies. Given the correction in the stock over last two months, current valuation 14.3x FY19 EPS looks reasonable. We upgrade our recommendation on the stock to "buy" from "hold" with an unrevised target price of Rs 320," the firm has stated in its report. Check stock quote of Ahluwalia Contracts

    Tata Power

    Another stock that Reliance Securities is bullish on is the stock of Tata Power (TPCL) and has a "buy" rating on the stock with a target price of Rs 88.

    "We expect that the lower earnings from Mundra UMPP will continue to weigh on the overall earnings of Tata Power. However, TPCL is taking measures to reduce generation cost through alternate fuel sources and monetisation of non-core investments. We reiterate our "buy" recommendation on the stock with a revised target price of Rs 88," the firm has said in its research report. Shares in Tata Power closed at Rs 77 on the National Stock Exchange. Check stock quote of Tata Power

    CG Power

    Reliance Securities has a "hold" call on the stock of CG Power. "CG Power's consolidated earnings owing to low base and exit from loss-making overseas power business in Hungary and Belgium, which have been dragging the Company's profitability. Expecting a successful exit from loss-making overseas assets, we change our recommendation on the stock to "hold" from reduce with an upwardly revised target price of Rs 78 based on 22x P/E of FY19E EPS of Rs 3.5," Reliance Securities has stated.

    The stock last closed at Rs 79.60 on the National Stock Exchange. Check stock quote of CG Power here


    This article is strictly for informational purposes only. It is not a solicitation to buy, sell in securities or other financial instruments. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the author of this article do not accept culpability for losses and/or damages arising based on information in this article.

    Read more about: tata power ahluwalia
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more