SENSEX NIFTY
Nov 09, 2012, 10.53 AM IST | Source: CNBC-TV18

Buy L&T on every dip, says Anil Manghnani

Buy Larsen and Toubro (L&T) on every dip. The short term target is Rs 1740, says Anil Manghnani, Modern Shares & Stock Brokers.

Anil Manghnani

Analyst, Modern Shares & Stock Brokers

Expertise : Equity - Technical

More about the Expert...

Buy Larsen and Toubro (L&T) on every dip. The short term target is Rs 1740, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "The only one I would probably be little more concerned is Bharat Heavy Electricals (BHEL). The stock is rallying from Rs 224 which was the support level, but I think that stock needs to start closing above Rs 250-260 levels to give a little more comfort. Otherwise every time the stock rallies it is a sharp fall. Recently it has fell from Rs 272-222. That is Rs 50 fall where the market really did not correct. So I think that is the only one in that pack if you are looking at capital goods that you will be concerned right now. I think Larsen and Toubro (L&T) still remains a buy on every dip, in short-term maybe around Rs 1,740 sort of target."

He further added, "I am still not convinced. I am overall maybe negative to neutral on Bharti Airtel and maybe only neutral on Idea Cellular . I still believe Bharti Airtel will spend another quarter or two in this range maybe between Rs 240 and Rs 280-300."

Set email alert for

ADS BY GOOGLE

video of the day

Don’t try to time market; OMCs, paint cos to benefit: Emkay

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.