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Buy Infosys, Bajaj Finserv, Karnataka Bank, Pidilite Industries: VK Sharma

VK Sharma of HDFC Securities suggests buying Infosys, Bajaj Finserv, Karnataka Bank and Pidilite Industries.

August 28, 2017 / 11:44 AM IST

VK Sharma, Head of Business-Private Client Group at HDFC Securities told CNBC-TV18, "For Infosys, the shorts that happened after Vishal Sikka resigned, there the open interest (OI) went up by 17 percent, and the stock was down 10 percent. Now the swift manner in which Nandan Nilekani has been inducted and the fact that Nilekani returns with a vishal experience of acting as a chief of the largest social project in the world, I think he is much more. So even if he is not acting as an active CEO, he brings in all that is necessary to turnaround the company. So, I think these shorts will have to be covered. Therefore, Infosys needs to be bought. I can look at buying the 960 Call; at around Rs 6 it quoted yesterday, whatever opening price is, one can buy."

"My other stock is Bajaj Finserv. I am buying the 5,500 Call at around Rs 96 with stop loss at Rs 70 and target of around Rs 150. This is one stock where the whole series has been good and the stock is already up for further rise in the settlement."

"Another stock is Karnataka Bank where I am buying the 150 Call at around Rs 3.95, stop loss at Rs 2, and target of around Rs 7," he said.

"Pidilite Industries among the consumer space is one stock that I like. I am buying the 830 Call here at around Rs 11, stop loss at Rs 7 and target of around Rs 20. This is one stock in which shorts have happened in the series so far; 27 percent OI has reduced, so, profit taking has happened. The stock is up 5 percent. The longs started building up on Thursday, so, I think this is going to continue. I think the target of Rs 20 could be achieved in the current settlement," he added.
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