The stock price fall makes it a reasonable attraction for a small term bounce, valuations are still stretched somewhat. We are still close to 18 to 20 times current year earnings and therefore from that point of view, are not necessarily a very comfortable place to be.
Mahindra & Mahindra is more of a relative outperformer: Nilesh Shah, Envision Capital
ET Now 31 Aug 2012, 17:12
ET Now 31 Aug 2012, 17:12
There is some amount of outperformance which can come in M&M given the monsoons have not been as bad as what it was perceived to be two or three months back.
Bharat Heavy Electricals Ltd is a ‘SELL’ call with a target of Rs 198 and a stop loss of Rs 215.
IDFC Ltd is a ‘SELL’ call with a target of Rs 124 and a stop loss of Rs 137.
LIC Housing Finance Ltd is a ‘SELL’ call with a target of Rs 230 and a stop loss of Rs 245.
McLeod Russel Ltd is a ‘BUY’ call with a target of Rs 325 and a stop loss of Rs 306.
Biocon Ltd is a ‘BUY’ call with a target of Rs 273 and a stop loss of Rs 258.
Mentha oil prices gained Rs 7.80 to Rs 1,392.10 per kg in futures trade today as speculators enlarged positions, tracking a better trend at spot market on rising demand.
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