Nov 09, 2012, 10.53 AM | Source: CNBC-TV18
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 (more)
Analyst, Modern Shares & Stock Brokers | Capital Expertise: Equity - Technical
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."
Speaking at the sidelines of Confederation of Indi
Goldman Sachs says Kotak Mahindra Bank may outperf
Media reports suggest that Warburg Pincus is likel
Krish Subramanyam of Altamount Capital advises buy
L&T hopes to be at forefront of India’s defence