Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Jun 16, 2017 12:52 PM IST | Source: CNBC-TV18

See Aditya Birla Money hit Rs 80; don't chase pharma stocks: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com is of the view that Aditya Birla Money hit Rs 80 and advises not to go after pharma stocks.


Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Everything that is now wealth management, so, all of your broking related stocks are in fairly serious up trends. So, Aditya Birla Money is part of that group. As a disclosure, we have added these NBFCs also to our portfolio of NBFCs. So, chances are that these stocks could also move up; the ones that have housing finance or don’t have, chances are all of them are now moving up. Anything which has a broking entity is assumed that it will finally get into lending business also. Possibly you could see Rs 78-80 on AB Money soon."

"The problem with NIIT Technologies is that it is in technologies whereas Infosys and TCS are breaking down, CNX IT is below its 200 DMA and I am from the generation who saw the software bull market. In that entire bull market, there was one dog which was NIIT. So, I don’t think NIIT can keep rising while Infosys, TCS keep declining. So, I am not too keen on NIIT," he said.

"Maybe I will still back an Escorts post a decline. Aurobindo Pharma will go to Rs 700 and it will come back from there. That come back needs to be seen, how strong is it and possibly decline from Rs 700 will give you the buying opportunity. Do not chase pharmaceutical stocks because they are still under a bit of weather."

Close

"This is all British Petroleum (BP) and Reliance Industries impact, you have to see whether this continues. Dolphin Offshore fell from Rs 135 down to Rs 88 and today is showing a bit of upside. So trading upside towards Rs 120-125 but it is not in any kind of strong bull market," he added.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.

First Published on Jun 16, 2017 12:52 pm
Sections
Follow us on