Buy Peninsula Land, Aurobindo Pharma, McLeod Russel: Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha, ITI Wealth Management shares trading strategy of the day.

Buy Peninsula Land with a target price of Rs 47.90. Peninsula Land has been coming out with good results in the previous quarter and good results were expected this quarter. The stock has corrected from its peak of around Rs 85-Rs 90 and now is trading at about Rs 47.90. Peninsula has been one of beneficiaries of focus on monetization in order to bring down its debt. Its FY14 debt equity will be about 0.75 times which is very good for real estate company. Going forward I see good traction in this account and given the current momentum I expect that this target price of Rs 47.90 should be hit.
Buy Aurobindo Pharma with a target price of Rs 182. Aurobindo Pharma has recently received approval from USFDA for its unit No. 4 and it hopes to recover almost 60 percent of the sales they did on unit No 4. Given that it has filed seven NDAs and has launched almost 30-31 drugs overseas during this year 2013, the momentum is in its favour and we have seen the stock holding up inspite of weak market last week. I expect buying momentum to continue and the stock should hit is target price of Rs 182.
Buy McLeod Russel with a target price of Rs 352. McLeod Russel has been doing reasonably well in the past. given that tea prices have increased by Rs 20 to rs 25 and we have seen demand on tea go up. The stock has been moving up on volumes and I believe the current momentum should take it up further and would see it hitting its target price of Rs 352.
Sell Petronet LNG with a target price of Rs 132.60. This stock has been weak on the charts and is seeing a large sell-off in larger volumes. This is partly due to the fact that there has been a delay in commissioning of its fourth terminal at Kochi and this has been delayed to June 2013 so give that there may be some delay on that front as well as pipeline issues are delaying the additional off take of LNG. This stock is seeing some amount of selling from institutions etc which is pushing down the stock price. Expect the momentum to continue a bit and might go down to Rs 132.60.