Bullish on IndusInd, IRB; sell Sun TV, says Anand Rathi

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Bullish on IndusInd, IRB; sell Sun TV, says Anand Rathi

Devang Mehta, vice president and head of equity sales at Anand Rathi Financial Services, in an interview with CNBC-TV18's Latha Venkatesh and Sonia Shenoy, gave his long and short-term analysis on some of his picked stocks.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Sun TV Network BSE | NSE 31/05/12 Are Mutual Funds betting on Sun TV Network? Other Stocks in this news Dish TV | IRB Infrastructure Developers | IndusInd Bank | Jagran Prakashan |

Devang Mehta, vice president and head of equity sales at Anand Rathi Financial Services, in an interview with CNBC-TV18's Latha Venkatesh and Sonia Shenoy, gave his long and short-term analysis on some of his picked stocks.

While Mehta suggested to hold on to IndusInd Bank , he has a negative opinion on Sun TV and would advise the investors to switch to Jagran Prakashan . He feels that IRB Infra would outperform in near future.

Here is the verbatim transcript of Mehta's analysis. Also watch the accompanying video.

On Sun TV and Dish TV

The negative news does not seem to stop for Sun TV at all. The stock is fundamentally very good, but the only problem is the negative news that continues. Maran is in problem and the stock has been under hammer. At this point of time with all the negative news flow, the investor should exit out of Sun TV and Dish TV which is in the capital intensive business of DTH business. It would take normally four-five years for a lot of profits to come into the Dish TV's accounts. Both the companies are capital intensive industries. It will take a lot of time to come in to profit. The investor should switch on to the print media stock Jagran Prakashan which has been doing well. It is a leading company in the Dainik Jagran category.

On IndusInd bank

IndusInd is one of our favuorite picks. We have seen it outperforming the broader markets and banking sector in the last three-four quarters. The results are slated to be announced anytime tomorrow. We expect good set of numbers with a 32% rise in the net profits. NIMs & CASA would be quite good. The NPA coverage of the bank is quite good. We have a fundamental price target of around Rs 310 for IndusInd Bank. The investor should hold on to the stock and buy more on dips.

On IRB Infra

It is a difficult call for a trading bet. This is one of the most interesting stories in the BOT space having one of the largest portfolios in the built operate and transfer space. It has an order book of almost Rs 11,800 crore. Order book to sales would be around five times for this company. A lot of traction could be seen in the revenues as a lot of HNI awarding of projects will happen in the near future. The company is involved into the Ahmedabad-Baroda express way which constitutes 30% of its projects right now. We expect IRB Infra to outperform the infra space as a haul. If the investor converts this trading position into his investment, he/she would not suffer and make a decent amount of profits.