Buy Tech Mahindra; target of Rs 730: IIFL

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Buy Tech Mahindra; target of Rs 730: IIFL

IIFL is bullish on Tech Mahindra and has recommended buy rating on the stock with a target of Rs 730 in its June 7, 2011 research report.

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RELATED NEWS Buy Kajaria Ceramics; target of Rs 117: Emkay Buy Ashok Leyland; target of Rs 65: KRChoksey Buy Havells India; target of Rs 447: GEPL Capital ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Tech Mahindra See messages about Tech Mahindra Tech Mahindra BSE | NSE 22/02/12 Are Mutual Funds betting on Tech Mahindra?

IIFL is bullish on Tech Mahindra and has recommended buy rating on the stock with a target of Rs 730 in its June 7, 2011 research report.

"Tech Mahindra has given an upside breakout after consolidating in rounding bottom formation which resembles bullish structure. Also, yesterday the stock gave a close above its 200- DMA for the first time since April 2011. Breakout is also seen in daily RSI after formation of rounding bottom, this provide supplementary evidence of sustainable up move in the counter and stock is likely to head towards Rs 730 in the medium term. We advise buying the stock above Rs 705 with stop loss of Rs 697 for an immediate target of Rs 730," says IIFL research report.

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