Oil marketing companies just going up on fallback of government doing something on diesel or LPG or Kerosene but its not enough in terms of making an initiative to go ahead and buy any kind of OMC stocks. But yes, we are positive on stocks like ONGC, Cairn India and Reliance.
Have a target of about 325 on Tata Motors, downside is protected: Gaurang Shah
ET Now 22 Aug 2012, 17:41
ET Now 22 Aug 2012, 17:41
Close to about 220, downside is protected and we are working with a target of about 325. Our time horizon is about 12 to 16 months.
As the number of subscribers go up, they will have to go for more towers, so the opex will go up. And the spectrum allocation is likely to increase the capex also in the sector.
In terms of contrarian bet, oil and gas has been a contrarian sector for quite sometime and valuations are also supportive. I guess that could be a contrarian bet at this point of time.
Equity typically does better when the rate cuts start happening. So we are looking to add interest rates sensitives and reducing exposure to interest rate insensitive sectors.
Rally in ITC and HUL may not sustain for long weighed down by overall slowdown in the economy, says N Jayakumar of Prime Securities.
Reliance Communications Ltd is a ‘SELL’ call with a target of Rs 54 and a stop loss of Rs 56.50.
SKS Microfinance Ltd is a ‘BUY’ call with a target of Rs 133 and a stop loss of Rs 125
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