Jul 01, 2011, 10.26 AM IST
Bank of America Merrill Lynch recommends buying Reliance with a target of Rs 1,071. They have cut their target and EPS estimate on petrochemical margin changes.
Citi recommends buying Indraprastha Gas with a target of Rs 425. The stock is Citi's top near-term pick in the gas sector, driven by a possible upside to consensus earnings on the back of a sharp reduction in its average cost of gas and greater comfort on its aggressive volume growth forecast.
StockWatch: 7 stocks that tend to do well in July
UBS maintains a buy on Carborundum Universal and has raised its target from Rs 296 to Ts 360. The management does not foresee any slowdown in India or global markets and remains confident of achieving growth of over 14%.
IIFL Institutional Equity reiterates a buy on Apollo Tyres with a target of Rs 109. They have we upgraded their FY12 and FY13 earnings estimates for Apollo Tyres by 30% each to factor in recent price increases by the industry for truck and bus tyres in the replacement segment.
Intermediate top in Nifty is probably in process. Markets may move towards distribution or correction; Monday may have seen an exhaustion gap in Nifty
ALL GOOD THINGS COME TO AN END. The rally in Nifty which started from 5975 and touched 6415 may now be coming to an end. Fresh buying should be done only after some downward movement in prices has taken place.
Action in Reliance Industries
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