Buy Pantaloons Retail, Glenmark Pharma: Agarwal

Buy Pantaloon Retail with a target of Rs 210 and a stop loss of Rs 188. I believe management has shown some serious interest in reducing their debt from the current levels by selling their noncore assets. Foreign direct investment (FDI) allowance in the sector would be a further trigger. Again current strong momentum can take the stock further from the current targets.

Buy Glenmark Pharma , the target for the same is Rs 390 with a stop loss of Rs 365. I believe that Glenmark Pharma is a safe bet in the current environment, they have a very well diversified revenue base coming from US and Europe. Again as far as the valuation is concerned, it is trading about 14 times to its FY13 earnings versus a peer group of 18 therefore it remains an attractive buy for the long-term.

Buy Mahindra Satyam with a target of Rs 88 and a stop loss of Rs 81. Yesterday, Satyam and Tech Mahindra have shown good upmove and I believe that momentum should continue for today. Again the rupee depreciation should add a benefit to the overall environment.

Sell Ashok Leyland with a target of Rs 23.5 and a stop loss of Rs 25. Current interest rate environment and falling sales can put a pressure on the stock. It has broken the key level of Rs 25 and therefore I believe the momentum in the downside remains high.