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Apr 03, 2012, 10.44 AM IST
Fedders Lloyd has target of Rs 84-85, says Aashish Tater, Head of Research, Fort Share Broking.
Tater told CNBC-TV18, "Fedders Lloyd is one story that we have been recommending through our quant models and it has worked very well. In April last year we recommended that the stock should go and test that Rs 97-99 odd mark from April to June quarter, it did that. Then in October we recommended that stock should first go to test that Rs 55 odd mark and incidentally the stock price of yesterday’s close is around at Rs 55 odd mark."
He further added, "We feel this is one stock which has got potential in terms of short-term trade from April to June quarter as it has been the case for almost last five years and that’s why our quant model is very fast to pick this
"Take a call from the fundamental aspect. The company is going to register a growth of almost 8-10% for next fiscal. We feel the company would end somewhere around Rs 950 crore for this year and for next year it would do Rs 1,070 crore, but on bottomline I do not see any growth except for the fact that the company would do that Rs 40-45 crore of profit. But what interests me is Whirlpool is a call that we took on your show only at Rs 170 odd which actually has started moving. Similarly Hitachi has started moving from Rs 100-130 odd mark."
"Now the next level both IFB and Fedders Lloyd would show a lot of price momentum in that April end to May second week in this particular quarter itself, because this has been the trend for almost last five years and we are really comfortable in playing both IFB as well as Fedders Lloyd from this perspective."
"Our quant model predictor suggests Rs 84 as a target from next three months perspective and current price is Rs 55, so almost Rs 30 that can be made and the stop loss it has provided is very minimal of around Rs 47 and that too on closing basis. The year low is around Rs 48 but there this stock showed lot of momentum and it jumped fast to that Rs 60-61 odd mark."
"So it is a stock which will give you Rs 6-7 of downside and then there will be attractive dividend yield of almost 3% plus from next year’s perspective. So every time it will show some bounce back. So if someone wants to take three months call I think this is one stock which can be looked at for a target of close to Rs 84-85."
May 18 2013, 17:26
- in MARKET OUTLOOK
May 17 2013, 12:39
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